NO! I'm trying to figure out something. Obviously, I wasn't as aggressive as I could have been. Just trying to see/understand what styles work or don't work in certain market conditions X,Y,Z,etc. trader99
Umm, ok. The way you wrote that post, I don't think anyone would blame me for thinking you had a good day on Monday and popped in to take a crap on anyone who didn't. I don't claim to know your intentions 99, but I can say your presentation is a real head scratcher sometimes.
Yeah, I think we had previous "encounters" with the way I present/write things. Seems like people can be easily defensive when there's no need to be. But it's an interesting question , nevertheless. Because finding that out could mean that one needs to adjust your "core" styles for certain days that are just raging up or down. I, by no means, have mastered it. Still working on it like all of us here... trader99
lol 99, i know a little about presentation and writing style. When clashes occur, sometimes it is because the reader is overly sensitive or defensive. Other times it is because the writer comes off like a pompous jackass. Sometimes I can sound arrogant and demeaning too, though I try to be careful about it. You come off that way frequently. If you really don't see it then it's something to work on, might help the interactive part of your career later down the road. p.s. i know you are an ivy leaguer, was it by any chance MIT? Only asking because I know there was a legitimate study done on MIT graduates in terms of mathematical/engineering skills vs. social skills, the ratio was incredibly skewed
Well I did well monday......... Please don't bring up today though........... I don't want to tell how my shorts fell up and my longs jumped down. Ah, Monnnddday!
Trader 88 it has been my experience that it is best to NEVER adjust your trading style for certain days and then different for others. If you a style that prodcuses profit then just be resigned that some days will not work out. I have a good profitable style but i will miss an occasional "good" market day i will NEVER change style to accomodate a rare type of day. Just me. AllenZ
fully agree with AllenZ. everything was going up if you picked them at the open. rest of the day was flat. the ideal imo was to be long since friday. that's why I took profits and left the markets early. other styles would have no overnight so scalping to death. others would trade S/R all afternoon and make a bundle. others would just do nothing. others would cover their big shorts positions and lock massive profits and be totally out of the markets (since friday). so noone can 'judge' others based on what they do on a single day, if they make money or not. an easy day for one, can be a nightmare for another one. the important thing is to make consistent profits long term, remember ?
Yeah, I knew you were going to say that. Except I'm NOT Trader 88. I'm trader99! There is someone on here that's called Trader88, but that's not me. Anyhow, I totally agreed. It's hard enough to master one style and do that consistently. But I guess what I'm trying to say is if all you do is Style X and the market gives you ample, ample opportunity to go superlong on Monday but you can't get yourself to do that b/c it's against your "style X" then it's lost opportunity. But as long as you are happy with what you are doing then who gives a hoot right? trader99
I completely disagree with this way of thinking. Lamenting missed opportunity is a sucker habit, and switching styles on a whim is a ticket to the poorhouse. Changing styles is not like changing your shirt. With all the specialized elements of the craft and all the hidden pitfalls, it takes months or even years to get the engine firing right. No one gets it right all the time, no one with real experience even tries. Furthermore, the best traders find the time frames and risk levels that mesh with their personalities. They act with the confidence of a solid foundation built on long hours of hard work and understanding. So we are supposed to just throw that out the window and say well gee whiz, the mutual funds are walking up their names, let's take a flyer and go randomly long just because the screen is green? If some idiot won a million dollars playing russian roulette and went on CNBC to brag about it, they would probably praise him for his courage because they are too blind to see the hidden dangers, the risks that are there but don't always manifest themselves. Flyers should be taken in Vegas, at least down there you can get free drinks and the glitz of the strip. Message boards are filled with poison. All newbies listen to me: listening to anyone at all on these boards, including me, may be hazardous to your wallet. You may well be a lamb led to slaughter. If you have any doubt, guess what- you probably are.
Agree with Darkhorse on this. The only 'lost opportunity' is the trade you didn't take when your methodology told you to take it.