Personally, as it relates to me and my client work, I would prefer to think of a trade entry in terms of "probability" and not in the strict literal sense of 'prediction'. I do understand why one would use the term 'prediction' and I would certainly not argue with a successful trader's personal viewpoint on what makes him or her profitable - if it is predictive capabilities then so be it. Maybe I am just splitting hairs on semantics. No, I cannot say at the time of a trade entry what the percentage of probability for success for that particular trade would be in terms of making its' profit target instead of getting stopped out. I know what my l own personal long term historical performance metrics are. I know where I want my clients to be in terms of performance metrics in their paper trades or SIM trades before they risk real capital in a live market. I hesitate to use the term "prediction" by personal choice only because if one has to deal in absolutes, then trading is certainly the wrong business to be in. But if a trader says that he or she can predict the market and that person makes a living at trading and can do it over the long haul through many different market cycles - then I would be a fool to challenge that person's descriptive choices. If it works, then call it whatever the hell you want.
The Dow tacked on 66.96 points, or 0.49%, to 13779.17, with almost all of those gains coming from IBM. The blue-chip technology giant pushed the price-weighted index up 65.39 points alone, though weakness among other stocks limited the day's advance. The Dow is now at its highest level since December 2007.
That's correct, unfortunately the gurus here always have the perfect hindsight explanation to everything. This move is very much irrational but you know GM doesn't just stand for Government Motors, it also stands for Government Markets - this is what it is now. The fading first world trying to grab whatever it can to stay afloat, with every dirty trick available.
That isn't trading, that is called GAMBLING!! Technical analysis of S&R, which is what i use for my entries, is NOT based on some foolish nonsense like trying to create ''an edge'' from your money management skills! YOUR ENTRY IS EVERYTHING! If you are making 50 trades and more than 13-14 of them lose money then you are making extremely foolish stupid trades, and so should stop gambling and start focusing on your entries so that you wouldn't endup losing so much. And so anyone who ''doesn't care about the outcomes of their trades'' is not only a gambler, but is actually a gambling addict.