Jump to content



Photo

Top picking will get you nothing...


  • Please log in to reply
6 replies to this topic

#1 CLK

CLK

    Member

  • Traders-Talk User
  • 10,823 posts

Posted 10 November 2009 - 05:20 PM

...but a depleted trading account. Seriously, there is no important
top yet, why try to force one. With the frequnecy I'm seeing this here
its a wonder people have the means or the will to keep trading.

Trade with the trend until you see the turn coming. Be happy with a flat
position once in awhile and don't carry a big position late in the trend.
Just some things I've learned the hard way.

#2 porsche911sg

porsche911sg

    Member

  • Traders-Talk User
  • 2,907 posts

Posted 10 November 2009 - 05:46 PM

...but a depleted trading account. Seriously, there is no important
top yet, why try to force one. With the frequnecy I'm seeing this here
its a wonder people have the means or the will to keep trading.

Trade with the trend until you see the turn coming. Be happy with a flat
position once in awhile and don't carry a big position late in the trend.
Just some things I've learned the hard way.

THAT'S NOT TRUE AT ALL... shorts made me twice the amount of money than longs the last month. I was also short this month so far been profitable.

CAN you see that there is a week of corrections in the last week of every month. that's also a trend we can profit from it. nothing wrong here.

This technique has infated my account not depleted it.
The market catches almost everyone on the wrong side. We always seem to get fake break out before that huge dump or the hugh dump before the false break down! Trade Safe!

#3 CLK

CLK

    Member

  • Traders-Talk User
  • 10,823 posts

Posted 10 November 2009 - 07:48 PM

ES up about 4 now. If we get another big day up tomorrow there is no top in sight for a long way, forget double tops. I should have put my small position back on at the close, but there will be more if tomorrow does well.

#4 porsche911sg

porsche911sg

    Member

  • Traders-Talk User
  • 2,907 posts

Posted 10 November 2009 - 07:54 PM

ES up about 4 now. If we get another big day up tomorrow
there is no top in sight for a long way, forget double tops.
I should have put my small position back on at the close,
but there will be more if tomorrow does well.

MY shorts are VSt for the moment. I only get seriously short by last week of the month, it's been a trend.
I never said guess the high let the toping out process continue short in last week of the month.

I don't buy every day I let the position ride out. But I respect your system.

I am sure short players like nav, rf has been making lots of money on the down side.
The market catches almost everyone on the wrong side. We always seem to get fake break out before that huge dump or the hugh dump before the false break down! Trade Safe!

#5 beahero

beahero

    Member

  • Traders-Talk User
  • 162 posts

Posted 10 November 2009 - 10:28 PM

...but a depleted trading account. Seriously, there is no important top yet, why try to force one. With the frequnecy I'm seeing this here its a wonder people have the means or the will to keep trading.

Trade with the trend until you see the turn coming. Be happy with a flat position once in awhile and don't carry a big position late in the trend. Just some things I've learned the hard way.


I'm still holding a profitable short position trade since Oct 15th. Small caps continue to lead to the downside. If that changes, I will too. Until then, I will continue to "Be Right, and Sit Tight"

Attached Thumbnails

  • IWM.png


#6 CLK

CLK

    Member

  • Traders-Talk User
  • 10,823 posts

Posted 11 November 2009 - 05:35 AM

...but a depleted trading account. Seriously, there is no important top yet, why try to force one. With the frequnecy I'm seeing this here its a wonder people have the means or the will to keep trading.

Trade with the trend until you see the turn coming. Be happy with a flat position once in awhile and don't carry a big position late in the trend. Just some things I've learned the hard way.


I'm still holding a profitable short position trade since Oct 15th. Small caps continue to lead to the downside. If that changes, I will too. Until then, I will continue to "Be Right, and Sit Tight"





It won't be profitable much longer, IWM will make new highs soon.
It's not leading anything, rather lagging instead. Small caps don't always lead.
Look for a meaningful bull market correction 100 spx points Jan.-Feb. after
we hit 1200.

#7 beahero

beahero

    Member

  • Traders-Talk User
  • 162 posts

Posted 11 November 2009 - 05:23 PM

It won't be profitable much longer, IWM will make new highs soon.
It's not leading anything, rather lagging instead. Small caps don't always lead.
Look for a meaningful bull market correction 100 spx points Jan.-Feb. after
we hit 1200.


I respectfully submit that it's long positions that have diminishing opportunity to retain profitability much longer. To your point about IWM making new highs soon: IWM couldn't even hold prices above yesterday's high for more than 30 minutes! Until there is a close at least above 59.60 (above 60.40 is a better signal), there is little hope for this current "rally" to persist.

Make no mistake, any rally that lacks speculative interest in small caps is predestined to fail. Small caps DO lead.

Peace.

Attached Thumbnails

  • IWM.png