I think so.
Was yesterday the high for awhile ?
Started by
nimblebear
, Mar 27 2007 10:39 AM
4 replies to this topic
#1
nimblebear
-
- Traders-Talk User
- 6,062 posts
Welcome to the Dark Side !
Posted 27 March 2007 - 10:39 AM
OTIS.
#2
hiker
-
- TT Member*
-
- 12,118 posts
independent trader
Posted 27 March 2007 - 10:47 AM
any trader that believes the future can be foretold is deceiving themself...why not simply trade between support and resistance, etc.
sure probabilities is what we trade.
so you still long FCX and CMGI? in spite of your prediction?
stockcharts gives a good explanation of the caution related to the values of the ADX, etc. -
sure probabilities is what we trade.
so you still long FCX and CMGI? in spite of your prediction?
stockcharts gives a good explanation of the caution related to the values of the ADX, etc. -
Edited by hiker, 27 March 2007 - 10:49 AM.
#3
Islander
-
- Traders-Talk User
- 2,551 posts
Member
Posted 27 March 2007 - 11:19 AM
any trader that believes the future can be foretold is deceiving themself...why not simply trade between support and resistance, etc.
sure probabilities is what we trade.
so you still long FCX and CMGI? in spite of your prediction?
stockcharts gives a good explanation of the caution related to the values of the ADX, etc. -
Great reply. I trade Burge's (?) S/R, but there is a good reason to look for trends, which do exist. I think when trends shift downward it is best to get short, set a wide trailing stop and let it run. Looking for trends allows me to tend more trades and that is why I do not just trade S/R. Islander
#4
Russ
-
- Traders-Talk User
- 7,198 posts
Member
Posted 27 March 2007 - 11:37 AM
With all due respect hiker, if you think it can't be done that does not prove it cannot be done. One trader I knew back in the mid 90's by the name of Michael Lipschutz who was a registered CTA had a very good system of oscillators that gave him reliable signals, sometimes he would hold drawdowns because he trusted that his system would eventually prevail. His calls on the compuserve investors forum were always right and would leave most of the traders in the dust.
We rent out a business office to another money manager that has a computer model that gives him short term signals, his system gives a reliable annual return of about 15%.
Russ
We rent out a business office to another money manager that has a computer model that gives him short term signals, his system gives a reliable annual return of about 15%.
Russ
any trader that believes the future can be foretold is deceiving themself...why not simply trade between support and resistance, etc.
sure probabilities is what we trade.
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#5
hiker
-
- TT Member*
-
- 12,118 posts
independent trader
Posted 27 March 2007 - 11:39 AM
Russ...you are right about that.
btw, I know someone that is in FCX long from $13 and has not yet sold based on their long-term view (guess about probability, supported by long-term price action)...time will tell whether that person's trade management is correct and more profitable than exiting at the 2006 all time high...FCX has paid dividends to stay in the trade these many years
Edited by hiker, 27 March 2007 - 11:44 AM.
