35854 replies to this topic

[AJS]

Is this early morning sell-off pre-market open just some nervous selling or a sign of whats to come?

 

TA indicating an uptrend with resistance @ 39,143.

 

Excuse my ignorance, but what is this TA?

[Trainee Trader]

Is this early morning sell-off pre-market open just some nervous selling or a sign of whats to come?

 

TA indicating an uptrend with resistance @ 39,143.

[OceanWalz]

copied this from net this morning:

 .... this bounce is more  a reaction to oversold levels than strong demand for stocks......Traders often try to get ahead of the market by out thinking it.  They use fundamentals and technicals in an attempt to predict its next move, but what they miss is market prices are nothing more than a function of supply and demand.  It makes no difference what the fundamentals or technicals show, if we are running out of sellers, markets find a bottom and bounce.  Far and away the hardest part of contrarian investing is ignoring what everyone else is obsessing over.  Taper?  Forget about it.  Syria?  Already priced in.  If people are talking about it, they already traded it, and it is no longer relevant.  You can take that to the bank.

While the near-term collapse is temporarily off the table, we need to acknowledge bears are not wrong, just early.    While I am constructive on this market, as soon as it stops acting as expected, it is time to pull the ripcord.  Most still don't trust this market, but we are getting closer to the day when people stop fearing every red day and that will finally be our time to stick with a short.  The market has a nasty habit of convincing us we are wrong just before proving us right.  Stay flexible and open-minded.

[Sunesis]

Quote by"  Victor Sperandeo

 

When he finally got out, he felt a sense of relief – which is somewhat ironic since he had just lost 70 percent of his money. There’s nothing logical about this process. It’s all an emotional pitfall. Planning where to get out before putting on the trade is a means of enforcing emotional discipline.

[Sunesis]

Are you expecting a pull back tomorrow

I will have to see how the S&P 500 and Dow close tonight

[Plasma]

* Everyone is wrong in the markets at times. The difference between the great traders and the unsuccessful ones is in how long they stay wrong.

* Addictive traders get high from action; great traders get high from mastering markets--and mastering themselves.

* Great traders do their best work when they are not trading; unsuccessful traders do not work when they are not trading.

* Every loss of discipline is a self-betrayal; great traders are true to themselves and stay disciplined as a result.

* Great traders focus on the two things they can always control: when they play and how much they bet.

Brett Steenbarger, Ph.D.
Author of The Psychology of Trading (Wiley, 2003), Enhancing Trader Performance (Wiley, 2006), and The Daily Trading Coach (Wiley, 2009) with an interest in using historical patterns in markets to find a trading edge.

[Beorn]

I'm short @ 39000.

Will add if we go higher.

 

Added to short @ 39100

[Trainee Trader]

What a day, bulls killed it

 

I had to hedge my trade just to stay in the game.

 

Are you expecting a pull back tomorrow?

[AJS]

The bulls got me tired today, its one of those days when you feel like taking a early sleep just to forget about it. That's if you were a bear like me today

 

ALSI trading has cost me plenty of money last year, so for now I am taking it easy on ALSI trading, focusing more on CFDs and some SAFEX agricultural futures.  Just taking small ALSI positions.  I've been long FSR since last week, so I am smiling today! Sorry to hear about your day though, hope it picks up from here! (no pun intended there   )

[Sunesis]

We might as well go and just touch 40k for the hell of it, not that far away now! 

The bulls got me tired today, its one of those days when you feel like taking a early sleep just to forget about it. That's if you were a bear like me today

[Sunesis]

Don't need to trade every day, I say again, in and out and short and long eats your money, but I still learn everyday.

 

If you make it a business and trade patterns you will make money and less stress.

 

Like now..I am not even watching the charts, will only go short after the 18th when she hits that 39900ish..to short now is gamble yes!

 

A

We have to take emotion out of trading, you win some you loose some.

 

There are old traders and there are bold traders, but there are very few old, bold traders.

 

Learn to take losses. The most important thing in making money is not letting your losses get out of hand. Also, don’t increase your position size until you have doubled or tripled your capital. Most people make the mistake of increasing their best as soon as they start making money. That is a quick way to get wiped out.

 

I don’t think you can consistently be a winning trader if you’re banking on being right more than 50 percent of the time. You have to figure out how to make money being right only 20 to 30 percent of the time.

[AJS]

What a day, bulls killed it

 

I had to hedge my trade just to stay in the game.

 

We might as well go and just touch 40k for the hell of it, not that far away now! 

[Sunesis]

What a day, bulls killed it

 

I had to hedge my trade just to stay in the game.

[Polly]

Bear catcher you always seem to write in absolute gibberish and that is why no-one understands you here. Please write in proper English.

It appears you are a very  emotional person who has got burnt badly recently and now you are taking out your frustrations in this forum? if so , please do not gamble your money away here as you will need debt counselling very soon. I am not trying to make a joke but am very serious.

[Argento]

Lekkery I said Argento was right best gambler of all

 

Don't need to trade every day, I say again, in and out and short and long eats your money, but I still learn everyday.

 

If you make it a business and trade patterns you will make money and less stress.

 

Like now..I am not even watching the charts, will only go short after the 18th when she hits that 39900ish..to short now is gamble yes!

 

A

[bear catcher]

Lekkery I said Argento was right best gambler of all

[bear catcher]

Lekkery I said Argento was right best gambler of all

[Lekkerry]

He really doesn't like you anymore Argento! But blame the charts!

 

 

 

Lekkery LOL the most of the guys you included the don't understand it then Argento the only one that was long

[bear catcher]

Lekkery LOL the most of the guys you included the don't understand it then Argento the only one that was long

[Lekkerry]

One can't blame the tech if it ins't understood: the fundamentals, the context and the scope of the tools being used.

 

Then no mention is made yet about the aptitude and the discipline!