A swing trader recently-turned-scalper who has the guts to proclaim the death of trendfollowing -- now is that a sign of the times or what? Here's one thing for sure, if I was a pure trendfollower, I would pray that the entire world thinks that trendfollowing is dead, and would be grateful to anyone for spreading the word of its demise.
Having "shattered" everyones delusions on a number of subjects from the existence of electricity to the theory of evolution, I am going to bed. P.S. I hope, but am not entirely convinced, that electricity does exist, even though I have never seen, touched or tasted it. Based on the quality of posts, I feel obliged to say: "Please don't try that (the tongue thing, or the paper clip thing) at home"
Lefty is the real deal and he's also a very helpful person. Not only is he a great trader but he shares his knowledge with others.
I thought we discussed this already. You then offered me the opportunity to post here, in real time, my signals. I explained I have already done so for nearly six straight months in another thread. More importantly, I pointed you in the direction of the location where you could (for yourself) test out my use of the price-volume relationship. I do not expect you to simply take my word for it, but I don't plan to do the homework assignment for you either. Frankly, what you believe or disbelieve with respect to my methods effects me none. While it remains your prerogative to believe as you wish, your belief system simply has no bearing on my profitability. However, I wish you continued success in your efforts. - Spydertrader
Thanks Peter. Really nice of you to say so. Let me know if you see one of those "trends" tomorrow. Apparently they are hard to find.
Yes Spyder: That is one thing we can agree on. One hopes that each trader will eventually (sooner rather than later) find an approach that yields success. Seriously, I hope you all find something that works for you. In my own case, I found that the basics worked, once I learned to have discipline and manage risk appropriately. Again I have to say, the information is out there, and some of it is right under your noses. Good luck everyone. Lefty.
Funny you should mention that, because I was just reminded of a debate I had a few weeks ago with someone who resorted to the same technique of using fallacies of logic in lieu of a cogent response. The difference is that this other fellow was very intelligent and made quite a contest of it. You, on the other hand, have yet to get past sitting there and acting cute.
You sound a little angry. I understand. I am guessing that about now you are also feeling a little embarrassed. Or perhaps it will take a while longer for that realization to kick in. At the risk of "piling on", I have to say that I am not surprised that you are debating the theory of evolution. You may feel free to use my argument (depending on your appearance).
Any false method, including "trend" following, will yield success to some degree, otherwise it would be negatively correlated to the market, which is an edge. Trends exist only in the past, so traders on trend have made money in the past, but only as luck has provided for them. The theory of market efficiency implies, "If there's a method in the public domain, it doesn't work." One can prove both of these wrong by specifying a reliable method, composed exclusively of publicly available techniques, that can be applied to past price to determine a usefully large number d such that |p1-p0| is greater than or equal to d, where p1 is a near-future price and p0 is the current market price. I'm still waiting for someone to show me that reliable method.