Supply and demand question

This is a discussion on Supply and demand question within the General Trading Chat forums, part of the Reception category; Originally Posted by Aaronmalins just means you're not moving with the masses or the big boys. Thats a no no ...

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Old May 1, 2009, 6:01pm   #21
 
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Originally Posted by Aaronmalins View Post
just means you're not moving with the masses or the big boys. Thats a no no in trading.
Ok a better example would be- There is a fast downward movement, I see that the price is coming to major support and when it reaches this it stalls. I see my opportunity and I can go long with a 5pt risk. At the same time many other traders go long/cut there shorts and the price bounces upwards.



Now, do I care why they went long at that point? It could be for an infinite number of reasons, there was a MA there, fibs, bolly bands, a different TF, they could have had a fat finger and gone long by accident, or they could have been looking at the same potential support point that I was looking at. The point is I don't care why they went long, I only care that they did go long. My reasoning behind it could be irrelevant to other people but to me that is what I am waiting for and that is what I am focussed on.

By that i'm not saying I don't pay attention to what the masses are doing, after all its easier to move with them than against, I just don't care why their doing it.
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Last edited by Rossini; May 1, 2009 at 6:13pm.
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Old May 1, 2009, 7:48pm   #22
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One thinng I've learned in trading is once you understand what you're doing, why is irrelevant
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Old May 1, 2009, 11:26pm   #23
 
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Originally Posted by Aaronmalins View Post
One thinng I've learned in trading is once you understand what you're doing, why is irrelevant
Actually, you understand what you're doing when you know why. Otherwise you are guessing.
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Old May 2, 2009, 4:03pm   #24
 
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more esoteric claptrap from the clueless_trader ?
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Old May 4, 2009, 2:03pm   #25
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Actually, you understand what you're doing when you know why. Otherwise you are guessing.
long - price goes up - profit.... why? could be a million reasons and you just got lucky your analysis sent you in the same direction.
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