LORD JAMLA
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One poster recently commented,
'I couldn't agree more. As you suggest, trading is an if-then business and not a guessing game'
To be brutally honest, I could not DISAGREE more with what that guy has said. There are no rooms for if's and buts when you're trading. The markets take a natural course. 80% of the time, it shows the trader it's pre-destined course, hence one does not need if's nor but's. All you need is the correct form of analysis to eliminate each individual if and but , until you are left with the clear outcome.
The news is used to fit in with the market. It is secondary. That's how some folk (of which I have already proved) can predict world events. For example. I recently predicted Log would go to 120p ( a 33% rise), but turned bearish on Dow @ 8520, with a target of 8,300 which it hit. So, how could Log rise 25% on the back of a 200 point dow drop???
Well, no results were due out. I could've predicted that there would either be
a) a contract win
b) a broker upgrade
A broker upgrade came 3 days later, sending it flying to 120.75p
THIS IS WHAT WE DO. But on a much larger scale. A strong grasp of socio-political news is vital, since nothing of what we are told in those areas are true. 99% of people are being told 99% garbage 99% of the time. It's scary, but what the stock market is showing now is even scarier.
If you are a member of the 'if and but brigade', I ask you, why can you're analysis not remove these if's and but's. Why is it that you need to wait 100-200 points into a move until you're in on it. I mean we're all iffing and butting 20% of the time, that's cuz the Dow is playing hard to get, but 100% of the time?????? How often do those guys get caught on FALSE BREAKOUTS??
Seroiusly guys, the above quote is yet again one of THE GREAT TRADING MYTHS.
I'm here to break them and you should be glad I am.
I have only 3 weeks left posting on these boards till I start preparing for my summer seminars. Make the most of them.
'I couldn't agree more. As you suggest, trading is an if-then business and not a guessing game'
To be brutally honest, I could not DISAGREE more with what that guy has said. There are no rooms for if's and buts when you're trading. The markets take a natural course. 80% of the time, it shows the trader it's pre-destined course, hence one does not need if's nor but's. All you need is the correct form of analysis to eliminate each individual if and but , until you are left with the clear outcome.
The news is used to fit in with the market. It is secondary. That's how some folk (of which I have already proved) can predict world events. For example. I recently predicted Log would go to 120p ( a 33% rise), but turned bearish on Dow @ 8520, with a target of 8,300 which it hit. So, how could Log rise 25% on the back of a 200 point dow drop???
Well, no results were due out. I could've predicted that there would either be
a) a contract win
b) a broker upgrade
A broker upgrade came 3 days later, sending it flying to 120.75p
THIS IS WHAT WE DO. But on a much larger scale. A strong grasp of socio-political news is vital, since nothing of what we are told in those areas are true. 99% of people are being told 99% garbage 99% of the time. It's scary, but what the stock market is showing now is even scarier.
If you are a member of the 'if and but brigade', I ask you, why can you're analysis not remove these if's and but's. Why is it that you need to wait 100-200 points into a move until you're in on it. I mean we're all iffing and butting 20% of the time, that's cuz the Dow is playing hard to get, but 100% of the time?????? How often do those guys get caught on FALSE BREAKOUTS??
Seroiusly guys, the above quote is yet again one of THE GREAT TRADING MYTHS.
I'm here to break them and you should be glad I am.
I have only 3 weeks left posting on these boards till I start preparing for my summer seminars. Make the most of them.
