actually p2, i agree with you. what you just said in your last post is what i have been saying from the get-go. also, please don't think i am attacking you personally, i am not. i'm beating up on the "idea" not you. i believe that if you criticize the hell out of an idea relentlessly from all angles until you can't think of one more argument why it can't be so and it still holds up, then the idea is more worthy of belief. occasionally (heh) this is misunderstood for a personal attack. ____________________________________________________ if your "gut" is doing the thinking, then what is your brain doing?
Yes, it would seem that 30 was a solid support. But I was not speaking to that directly. When Lincoln's Cabinet criticized Grant for being drunk too much, Lincoln responded, "Find out what whiskey he drinks and send a case to each of my Generals" As amusing as this is, drunken warriors are soon dead soldiers.
what does "whatever" mean? you think we should all trade drunk? :-/ _________________________________________________ if your "gut" is doing the thinking, what is your brain doing?
Hey I like this idea. Let's get all my competition drunk while they are trading so I can take their money easier. Works for me. Robert
NOTHING SPECIAL GOING ON. _________________________________________________ those with "gut" feelings should try Pepto-bismol.
after observing you (and others in room) in action over the last few days i must say that i believe your results are the product of several simple mechanisms at work: 1)first and foremost is the propensity for a stock to rebound somewhat after a precipitous drop (at some point the stock must rise, it cannot drop forever) 2)your willingness to take on more risk and tolerate temporary drawdowns (potentially reaping greater reward when you do catch one but results in more account churning in meantime) 3)trade management on your part. to catch these falling knives you are buying & stopping out repeatedly for "small" losses until finally one bounces your way. once into the money you hang on longer trying for that homerun. as for any special ability to pick bottoms, i can't say (wish i could) that i've seen anything more remarkable at work here than just buying stuff on the way down that's dropped off a cliff and hoping the damm thing rebounds. when it doesn't you sell for a "small" loss, then do it all over again (and again) until you finally catch it or you tire of trying and move on to something else. i haven't seen any special bottom picking knack or tape reading skill. please correct me if i am wrong. :-/ ps i think your method would be easy to model ___________________________________________________ think with your gut? explains the crap in your head.
If it's so easy and you can tripple your money annually, come on and do it with me. You'll probably make more than what you're doing now. I think that what I'm doing is much more difficult that you think it is. There is a lot more to finding possible bottoms than just dumb guessing. Finally, if it were so easy, why do so few people make tripple digit returns. It would be simple to do what I'm doing and make huge returns, yet most people fail.