Why the FU** is the DOW rallying today. I just can't believe it. My stop loss kicked in and I lost 1/4 of my bank. This morning it was looking pretty good. futures were down 20 points and I thought my position would be in the money. What a sad state of affairs. I am almost hoping for a huge crash to teach the bulls a lesson!!!!
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Put the remaining 3/4 of your bank on a horse.
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It should correct at some stage.
Don't put in a stop - just wait it out.
While you're waiting you can phone the bookies from the pub.
Do you do correct score betting on football ? If so, what is your success rate ? I would be interested to know.
Don't put in a stop - just wait it out.
While you're waiting you can phone the bookies from the pub.
Do you do correct score betting on football ? If so, what is your success rate ? I would be interested to know.
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Dunno about a charting approach.
But certainly a farting approach I should think.
But certainly a farting approach I should think.
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Yeah Gecko. I have been looking at correct score betting and to make money you have to get around a 20% hit rate. Sounds easy but it is in fact very very difficult. On paper, I am achieving around 11% over English Premiership, Spanish, Italian and German Leagues.
Next res on S&P 1100/06.....looks like that's where they're trying to get it up to.This is about another 90ish pts on Dow,takes it to roughly 10440. This should be the top for now.Due a correction,5 consecutive up days now. Watch for buying thou on first couple of trading days of New Year...new money...then lower..
If you can afford it Gecko hold on...
Good Luck
If you can afford it Gecko hold on...
Good Luck
F
ford
I'm a mega bear on the U.S. stocks, but that doesnt mean they cant go up. People are stupid and I learnt, not from losing money, but by constantly 'expecting' a pull back that it doesnt matter what *I* think or what *I* know, what matters is what the people who can move the market knows and do.
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All I know about the markets is that they are capable of doing anything. I always bear that in mind.
Mine's a pint.
Mine's a pint.
Trader333
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GeckoTime,
This will sound condescending but is not meant that way,
As soon as you realise that attempting to predict market direction is futile the sooner you will not have days like you have had today.
I have also gone through the stage of thinking that I could tell when markets would be overbought, oversold, rally, whipsaw in fact virtually everything. Whilst I had some success in the short term I always ended up losing in the long run.
Grey1 is right, if nothing else a sound money management strategy will prevent you from incurring this kind of loss again. But one of the worst things you can do is to is try and get revenge on the market. It will result in a total disaster and is an indication that emotions are controlling your trading and not your mind.
Put it down to experience and try and identify the traits in your self that allowed this to happen. Then put an action plan in place to address those traits, it can be done, I know because I have done it.
Paul
This will sound condescending but is not meant that way,
As soon as you realise that attempting to predict market direction is futile the sooner you will not have days like you have had today.
I have also gone through the stage of thinking that I could tell when markets would be overbought, oversold, rally, whipsaw in fact virtually everything. Whilst I had some success in the short term I always ended up losing in the long run.
Grey1 is right, if nothing else a sound money management strategy will prevent you from incurring this kind of loss again. But one of the worst things you can do is to is try and get revenge on the market. It will result in a total disaster and is an indication that emotions are controlling your trading and not your mind.
Put it down to experience and try and identify the traits in your self that allowed this to happen. Then put an action plan in place to address those traits, it can be done, I know because I have done it.
Paul
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