johnpaulca
12,036 posts
msg #67647
- Ignore johnpaulca |
9/23/2008 12:11:54 PM
Just happened to me with AIG, coulda have walked away with some serious profits, but within a blink of an eye saw it vanish.
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dforant1
76 posts
msg #67651
- Ignore dforant1 |
9/23/2008 12:35:38 PM
*nikoschopen
- Ignore nikoschopen 12/12/2007 9:02:12 AM
Solely from the charts, this market looks almost too riped to fall. But I'd be cautious for the next few days. By this morning, these same idiotic bulls are prolly pricing in a 50 point rate cut for the next Fed meeting (as if anything is automatically given for the asking) and you never know where the market will tip.*
Thanks to MTC I don't have to worry about the Market. In fact I leave the TV off till I'm done trading MTC style. If a long presents itself I'm in. If a short presents itself I'm in. All these anal-ysts drive me nuts with useless and generally backward looking info. Price action alone does speak volumes. Unless one is good at juggling, daytrades are the way to go.
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FuriousThug
256 posts
msg #67660
- Ignore FuriousThug |
9/23/2008 1:45:45 PM
Shoulda slept in all last week...my returns shadowed the S&P for the week ... 0.10%+
what a waste of time
btw, I'm still holding AIG 5.00 calls...the volatility alone is keeping the price up...holding out for the $10-spike...coulda shoulda woulda? we'll see...
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ludowillems
111 posts
msg #67675
- Ignore ludowillems |
9/23/2008 5:06:12 PM
dforant,
Speaking about analysts and other would-be Gods: somewhere in december 2007, i watched a (streaming) video by (i think it was Bloomberg). In this video appeared the protoype of the all-knowing-you-don't-have-to-tell-me- financial advisor (mid 50-ties, silvergray hair, superwhite teeth, gray pinstripe suit, white shirt, red tie) proclaiming that the 'financials' had their worst time and this was the now-or-never moment to buy at absolute bottom prices. As a cautious person, i did not follow his well meant advice, but put the proposed top-5 into a virtual portfolio. It is at -34,6% as of today. (Would this person still be employed??)
Regards,
Ludo
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TheRumpledOne
6,411 posts
msg #67678
- Ignore TheRumpledOne |
9/23/2008 5:22:47 PM
It's amazing how all those TALKING HEADS get put on TV.
I would love a chance to show the world how to MILK THE COWS.
Also, showing the RUN FOREST, RUN stocks would open the eyes of many traders.
It would put most of those people out of business because my methods are MARKET INDEPENDENT because they are PRICE DRIVEN. My methods ALWAYS work.
Market doesn't matter when you are MILKING THE COWS. BULL, BEAR, RANGING, TRENDING, CONSOLIDATING, ETC... MTC is NOT AFFECTED at all.
See none of those TALKING HEADS tell you HOW TO TRADE. They only tell you WHAT TO TRADE.
I could just see it now... someone calls in and asks about a stock, I run it through a couple of my StockFetcher filter displays and in seconds tell the caller THAT'S NOT A COW or THAT STOCK DOESN'T RUN.... forget it.
Can you imagine all the corporate CEOs that would be begging NOT to have their stock analyzed by me... LOL!!!
If the show had the same viewers as Cramer, oh man, can you imagine the stampede at the open everyday!?!?! Talk about stock's popping... I bet a rule change would happen in under a year!!
Oh well, dare to dream...LOL!!
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chetron
2,817 posts
msg #67681
- Ignore chetron |
9/23/2008 7:37:50 PM
YOU WOULD BE BANNED FROM TRADING, T.V., AND WALL STREET, TRO. DON'T DREAM IT, PLEASE. ROFLMAO.
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TheRumpledOne
6,411 posts
msg #67687
- Ignore TheRumpledOne |
9/23/2008 7:53:30 PM
Yup, you're right. But it would be fun while it lasted...LMAO!!
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alf44
2,025 posts
msg #67688
- Ignore alf44
modified |
9/23/2008 9:38:10 PM
...I like the imagery that the term ... "smash and grab" ...conjures up !!!
As a short-term trading approach that is !!! :)
If I had adopted that mindset sooner...had made it a part of my trading psychology... had made it a part of my trading discipline...had developed trading methods that were designed to capture these quick smash-and-grab intra-day moves...had made it my singular focus down to my very core ...had done ALL of these things MUCH SOONER in my "trading adventure"...I would've avoided a lot of stress over the years...AND...I would've grown my trading account many times where it is today !!! imo
I know "Rumpled" has used the term in the past in some of his threads...so I'll give him at least partial credit for helping to plant the image in my brain !
At any rate...I "Shoulda"...become a SMASH-AND-GRAB trader...much much sooner !
Regards,
alf44
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luc1grunt
622 posts
msg #67696
- Ignore luc1grunt |
9/24/2008 7:07:05 AM
How much time I wasted on too many squiggly lines!!!!! A glance is fine, deep study and scanning....life is too short.
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TheRumpledOne
6,411 posts
msg #67702
- Ignore TheRumpledOne |
9/24/2008 11:09:03 AM
Another mistake:
NOT TAKING A SMALL PROFIT and then letting the trade go RED.
And along with that:
Averaging down and then trying to make it all back at once and then letting the trade go RED.
Both of these mistakes cost time and opportunity.
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