3 replies to this topic

[cgnx]

I think that most folks are talking bearish while fully long in hopes that they are wrong with their words and right with their pocketbooks. So if the market does go down they will look good to others but lose their shirt. On the other hand if the market goes up they make some money, then who cares how they look to other folks. It's a win win situation.

[relax]

succesful traders don't care about other people's impression of them and they don't care if they are wrong

we're all right and wrong

it's about being small when you're wrong and big when you're right

but i agree with your point

last week i bet on a football team hoping that the other would win - just so i had a win win situation

I think that most folks are talking bearish while fully long in hopes that they are wrong with their words and right with their pocketbooks. So if the market does go down they will look good to others but lose their shirt. On the other hand if the market goes up they make some money, then who cares how they look to other folks. It's a win win situation.

[arbman]

Honestly, the only reason I post here is to see how my thoughts come out of my brain, it is a self check. I used to send these privately to my partners, but they are busy people and they don't really care as long as they have some good positive yield in the accounts. At least I found a community here who really cares and I even get some positive feedback... I've been generally right about 70-75% of the time, I am usually wrong right after important lows that keep going and going up, I just can not tell how high it will go. I am usually right about the ST turning points, but not how far the trend should extend. I might look like a complete idiot during these times... The extended trends are the hardest technical problems for me, I am usually very good at finding the low points. So, I end up watching the trend develop and making the most at the lows and highs (turning points), but not as much as I would like to at the middle. So, I end up taking the profits too early, especially because I will use high leverage, it makes very hard to sit on the position for long. It is usually the opposite for most people since they follow the trend and less leveraged --so they want to see more gains, I always question the trend... - kisa

[crestdorf]

Honestly, the only reason I post here is to see how my thoughts come out of my brain, it is a self check. I used to send these privately to my partners, but they are busy people and they don't really care as long as they have some good positive yield in the accounts. At least I found a community here who really cares and I even get some positive feedback...

I've been generally right about 70-75% of the time, I am usually wrong right after important lows that keep going and going up, I just can not tell how high it will go. I am usually right about the ST turning points, but not how far the trend should extend. I might look like a complete idiot during these times...

The extended trends are the hardest technical problems for me, I am usually very good at finding the low points. So, I end up watching the trend develop and making the most at the lows and highs (turning points), but not as much as I would like to at the middle.

So, I end up taking the profits too early, especially because I will use high leverage, it makes very hard to sit on the position for long. It is usually the opposite for most people since they follow the trend and less leveraged --so they want to see more gains, I always question the trend...

- kisa

Kisa, You figure out how to fix that issue regarding trend tgts with leverage let me know. Wouldnt need to keep trading if I could get that issue solved. It is THE battle I have had for 15 years. Well said.
Thanks for the post.

Edited by crestdorf, 23 June 2007 - 05:07 PM.