Tuesday, October 06, 2009

Long one unit at 1049.25

5 comments:

andi said...

unfortunately, carl that wasn't a good idea..see GS

Pele said...

Looks like bear market rally has finally ended

TAE said...

Carl, does your face hurt from grinning so much lately?

DL said...

Nope, the reaction was just a tad longer than what Carl had predicted. Uptrend still in place for now.

Kishore said...

andi, as you appear to be treating Carl as YOUR contrary indicator, you should be fair to Carl and give Carl 50% of your trading profits.

Will it also not be fair for you to keep your losses to yourself as you are the one who is treating Carl's calls as YOUR contrary indicator, probably much to his displeasure.

As for me, I try not to predict the market but I do want to participate. So, I am long and short all the time. Then, I only have to exit on one position and for that I can take my own time to decide. At least, I don't have to guess which way the market will be going. I just let it first have its way and I only have to decide when to close one side which is normally the losing side.

If one is right about direction of a potential move of the market a few times, it encourages development of the habit of trying to predict the market before it has made its move. That too is a losing proposition because, IMHO, such a habit can be disastrous, in the long run!