miketranz
961 posts
msg #71281
- Ignore miketranz |
2/9/2009 10:26:51 PM
Ever wonder why it's so hard to make money in the market? Did you ever buy high and sell low? I know,more times than you like to remember.You know why? You were sold a bag of goods.Like when the market goes up a few days and you jump in.Guess who's selling you stock?The people who know what their doing.The market is a game of contradictions,set up to take the money out of your pockets.To make matters worse,some of the people you invest your hard earned dollars with,are part of the scam.The market makers also play a part in it.Oh,and don't forget the analysts too.How about the talking heads,market commentarys,investment advisors?You'll never make any money with them because they're only offering you an opinion of what the market is "suppose to do".Market reality is based only on price,not opinion.Your mission to stay alive in this game,is to get on the right side of the market,regardless of popular opinion.Its all about taking a position against the grain.............
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13th_floor
724 posts
msg #71282
- Ignore 13th_floor |
2/9/2009 10:52:28 PM
good post but disagree here..
."Its all about taking a position against the grain"
No,not in many cases..you go with the flow...they run it.you run with it.
Use common sense on your outs though...something way far too many trading folks do not have.
Talking daytrading/very short swings here..."investing" as we know it is dead...opinions?
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chetron
2,817 posts
msg #71283
- Ignore chetron
modified |
2/10/2009 6:37:37 AM
."Its all about taking a position against the grain"
**************************
i don't think it is enough to say the above, i believe you need to understand supply and demand to know when to take a position against the grain.
ie: i won't want to be buying, when 13th is shorting. : )
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miketranz
961 posts
msg #71284
- Ignore miketranz |
2/10/2009 9:50:25 AM
Jr,I agree about flow,you just have to be on the right side of it.Your market timing has to be very accurate in whatever timeframe you trade.You have to be in and out before the next guy.Chet,against the grain meaning,opposite popular opinion or market sentiment.For example,if a stock gaps open lower on bad earnings news,I want to be a buyer.The fact is most people are wrong about the market most of the times.I don't want to be in that place.......
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chetron
2,817 posts
msg #71285
- Ignore chetron |
2/10/2009 10:44:04 AM
MIKE, I WOULD PREFER THOUGH TO BUY A GAP DOWN ON BAD NEWS WHEN IT HITS SUPPORT.
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TheRumpledOne
6,411 posts
msg #71295
- Ignore TheRumpledOne |
2/10/2009 5:58:11 PM
NO ONE KNOWS IF THE NEXT TICK WILL BE UP OR DOWN...
All the (squiggly) lines on charts mean NOTHING, it's all about PRICE.
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luc1grunt
622 posts
msg #71297
- Ignore luc1grunt |
2/10/2009 6:51:15 PM
Positive expectancy.......
Above neutral Reward to Risk......
Discipline to enter and exit......
Profit :)
Throw in a little "gut" when letting them run.
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miketranz
961 posts
msg #71300
- Ignore miketranz |
2/10/2009 9:48:15 PM
"NO ONE KNOWS IF THE NEXT TICK WILL BE UP OR DOWN".So true,but alot of market gurus will have you believing something different.Price is the final arbitrator.........
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bpmiller1
26 posts
msg #71316
- Ignore bpmiller1
modified |
2/11/2009 10:43:06 AM
One way I use to filter the news is when you hear good or bad news about a stock look at the 60 min chart. Is it channeling or gapping down days before the news? Thats probably the savvy Wall Streeters factoring it in before the news announcement. Then youre just prey for them when the news arrives . I lost big time when I went long oil stocks on the hurricane( Ike?) . The big players pumped it up so high on just the announcement before it entered the gulf by the time it entered the gulf days before it hit and everyone was all in, the big players shorted us down to our shorts . They're tricky and the game is rigged. I'd like to be a waiter in a Wall Street restaurant to overhear the lunchtime conversations, talk about some big tips!
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miketranz
961 posts
msg #71341
- Ignore miketranz |
2/11/2009 11:17:55 PM
Bp,you're right about the tips.Its nice to know whats going to happen before it really happens........
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