Definately the prudent thing to do but it looks like the market is setting up to run stops above today's high which will give a good shorting opportunity ahead of the close.
Sell the top - buy the bottom. Brilliant! Why didn't I think of that?
You remind me of a Will Rogers story. He was asked how you can make a lot of money in the stock market. Rogers replied " Buy good stocks and hold them until they go up. If they don't go up, don't buy them!"
There are two differences between Will Rogers and you, sir. First, Rogers was twice as smart as you are. Secondly, he was ten times funnier.
My goodness, what insight! I find that grade A suckers like yourself are always quoting trading aphorisms like that one. Sadly, a book of sayings can't substitute for skill and knowledge.
I appreciate your willingness to post your trades as you make them, Carl. There are no easy and universally correct methods to do what you are doing. Your methods seem to cause you to do what you should do. You took your loss and posted the results. Those who are critical of what you are doing are obviously not attempting to do what you are doing and are probably not exactly the sharpest tools in the shed.
Carl, I admire your courage to openly discuss your trades. If the talkers could do themselves, consistently, they would have no need to visit your blog.
Talkers, stop your BS. Help others, if you can, but don't criticize! Consistent success is a lot tougher than it appears to a novice.
also you are pre-disposed to the up side atleast right here--infact everyone is..so u r no much a loner.. everyone is hoping the nov 20th low will hold--and i am sure it wont..u have already called for an absolute all time low around 750 god knows on what basis.
Since Carl is reaching his boiling point, I would guess that we are ready for a rally. This is using Carl's favorite indicator. If you decide to make public calls you have to expect the good with the bad..it's just human nature. Carl has proven to all of us that Mathematics play a small no role in winning trade methodology. It's a fun blog to follow~
Well said Carl though you should not loose your nerves with this kind of Post.
You did the right thing and had the nerves to keep you plan, as always. That are the secret of good trading (not to be right or wrong on any trade, that's silly). >Even if that means taking a loss.
This market is one of the most difficult i've seen in years, even though everything seems (as always) so obvious once the charts are unflod.
Me too, i would like to see the trades of all those "should be millionaires" traders that keep criticizing.
As far as my trading skills go, you can keep track of my results which are posted on the right hand side of my blog:
# Blog E-mini Trading Record #since start on October 22, 2007: # # Traded 209 Units - 90 Profits # Net Profit : 330 points # # This represents a percentage #gain of 110% (75% on an #annualized basis) on a $15,000 #account trading one e-mini #contract per unit
There are not many who could do this on mostly bullish trades in a bear market.
20 comments:
Way too early Carl.Your call is right!
Definately the prudent thing to do but it looks like the market is setting up to run stops above today's high which will give a good shorting opportunity ahead of the close.
what a waste of effort--should have either faded the rally or not gone long--just another bottom fisher! 0 points for this effort
Nice job, Carl. You got out just before another turn to the downside.
trade what you see not what you expect.
it looks like its time to revise those theories that you use.
ive been following your blog for the last year and id say that you have been wrong in your guesstimates 75% of the time.
read up on some human psychology, id recommend about decision making in your case.
Dear 1:48 pm and 2:03 pm:
It's apparent that both of you are talkers and boasters, not players.
Do us all a favor and get lost!
Better yet, direct us to your blog where you post your trades as you make them.
Dear 1:48 pm:
Sell the top - buy the bottom.
Brilliant! Why didn't I think of that?
You remind me of a Will Rogers story. He was asked how you can make a lot of money in the stock market. Rogers replied " Buy good stocks and hold them until they go up. If they don't go up, don't buy them!"
There are two differences between Will Rogers and you, sir. First, Rogers was twice as smart as you are. Secondly, he was ten times funnier.
Thank you for sharing, Carl. I see logic in what you are doing.
Dear 2:03 pm:
"Trade what you see, not what you expect. "
My goodness, what insight! I find that grade A suckers like yourself are always quoting trading aphorisms like that one. Sadly, a book of sayings can't substitute for skill and knowledge.
well for starters--i dont open and close positions this fast atleast when i am sure we are heading to 678..have lots of puts and sleeping easy..
I appreciate your willingness to post your trades as you make them, Carl. There are no easy and universally correct methods to do what you are doing. Your methods seem to cause you to do what you should do. You took your loss and posted the results. Those who are critical of what you are doing are obviously not attempting to do what you are doing and are probably not exactly the sharpest tools in the shed.
Keep up the good work!
Ox.
Ignore them Carl. You are one of the best I have seen at taking small losses and big wins.
Carl, I admire your courage to openly discuss your trades. If the talkers could do themselves, consistently, they would have no need to visit your blog.
Talkers, stop your BS. Help others, if you can, but don't criticize! Consistent success is a lot tougher than it appears to a novice.
Just do it! My best wishes!
also you are pre-disposed to the up side atleast right here--infact everyone is..so u r no much a loner..
everyone is hoping the nov 20th low will hold--and i am sure it wont..u have already called for an absolute all time low around 750 god knows on what basis.
Have you guys seen ISE Sentiment index? Huge put buying...
Since Carl is reaching his boiling point, I would guess that we are ready for a rally. This is using Carl's favorite indicator. If you decide to make public calls you have to expect the good with the bad..it's just human nature. Carl has proven to all of us that Mathematics play a small no role in winning trade methodology. It's a fun blog to follow~
Vap
Well said Carl though you should not loose your nerves with this kind of Post.
You did the right thing and had the nerves to keep you plan, as always. That are the secret of good trading (not to be right or wrong on any trade, that's silly). >Even if that means taking a loss.
This market is one of the most difficult i've seen in years, even though everything seems (as always) so obvious once the charts are unflod.
Me too, i would like to see the trades of all those "should be millionaires" traders that keep criticizing.
Balsamo
im mr 2:03:
i didnt mean to piss you off, as i apparently did.
i wouldnt consider myself a "grade A sucker" but since its your blog ok...
you certainly have the knowledge but im not sure about trading skill.
you always seem to choose one scenario and stick to it until you must abandon it because the losses have gotten to big.
thus you, as i see it, have a stubbornness that a trader cannot afford to have. not in this kind of a market. an investor maybe. but not a trader.
i apologize for any bad english since im not a native speaker.
i also apologize for making you angry carl, thats not my intent.
Mr. 2:03:
Fair enough.
As far as my trading skills go, you can keep track of my results which are posted on the right hand side of my blog:
# Blog E-mini Trading Record #since start on October 22, 2007:
#
# Traded 209 Units - 90 Profits
# Net Profit : 330 points
#
# This represents a percentage #gain of 110% (75% on an #annualized basis) on a $15,000 #account trading one e-mini #contract per unit
There are not many who could do this on mostly bullish trades in a bear market.
mr 203
thats great.
but what about the rest of the list?
goog for example. why even include that one in the guesstimates? gold track hasnt been that great either to say the least.
maybe focus on the sp minis?
myself: short spx since 1619 gmt+1.
time to take profit.
but i expect futher downside. (may shot gold tomorrow if it stays under 975.)
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