22 replies to this topic

[Gary Smith]

I was very bullish going into today's trading. Yet, today I was a larger net seller of my stock positions than in any day since this past summer. That's because I was flat out wrong on how I thought the trading day would unfold. I had no choice but to sell. When the market proves him wrong, this trader doesn't think, he doesn't analyse, he doesn't rationalize, nor does he become frozen or inflexible by stubbornly clinging to the belief that the market will turn around if he waits another hour or another day. Instead this trader instinctively sells. Price action trumps all. It trumps this trader's indicators, and it trumps his fervently held opinions and beliefs.

[Jnavin]

Well said.

[OEXCHAOS]

As I said you would should price turn down. You never disappoint. Always an example of what a good trader does. Mark

[denleo]

I am buying and holding. I am in a bull market. Denleo

[youmast]

I am in a bull market.

Don't be scared , Denis... Buy more while we dance.

My yesterday's morning comment below.

[maineman]

No truer words..... Each trader has a plan, a risk tolerance, a time frame. If you know your own, you'll be okay. As I've been saying I have great respect for those who were able to "load up" and hang on in this chop (at least to ME it seemed like chop). For me, for several weeks now its been all about the scalp. I too expected a more vibrant up day, but sold very early, during the first half hour when it didn't feel right. And then kept scalping back and forth all day. Worked for me. One of the hardest things to do in trading is to "let go" as you so well outlined. mm

[Gary Smith]

I am buying and holding. I am in a bull market.

Denleo

http://bigcharts.mar...r...p;x=19&y=19



REITs were taken out and slaughtered today. Would you have sat through the decline in RSO today?

[denleo]

I don't trade RSO. I am a bull just like Da-Chief. He said 1473 is next. I believe him. Denleo

[outsider]

Too bad tuffy88 is on vacation, as I wonder if this is enough downside to shake out a long term investor. But he was uneasy before he left, as was Gary. Something about several distribution days made him uneasy and he was preparing to switch out upon remote instructions as I recall.... ---Out

[IndexTrader]

I don't trade RSO. I am a bull just like Da-Chief. He said 1473 is next. I believe him.

Denleo

The difference is, da Chief claims to be long from 1095. And he doesn't make any new long trades from these levels. So I guess he can't be wrong can he?

IT