you mentioned Luc. I had seen this guy bearish on Dell for years and probably lost a lot of money back then. Now he has gotten the declines right. Now the question mark is will he still continue to be right after all those gains in the Nasdaq have disappeared. We shall see.
I wonder if trading success is cyclical just like the tech sector. <g>
I mentioned him because in reading, it seemed that he is the only one holding as a short. You need balls to do that in the face of a rally --i don't give a damned how you call the rally, your money disappears just as fast.
I have learned enough T/A to become dangerous (to myself -G-), more importantly, I have learned to never be "religious" about T/A I try to look at all aspects of the market, psychology is one of them, I have been told that T/A INCLUDES such factors... I do not agree... and so, I keep an open attitude...
There are a lot of details that go into making a successful trade, and ANY of those details can go wrong. I have learned humillity and so, I will prefer to say " I have no idea where the market is going" rather than play a game of ego. Ego is the WORST thing in this business.
I try to read as much as I can and from those who I think they know their stuff... then I stare at the charts to see if I can get a read... sometimes I do, and sometimes I do not. Again, ego is your worst enemy... Once committed to the trade, the trade HAS to work almost immediately, if it does not... GET OUT. no sense in going into the "pray trade" or "hope trade" particularly in these markets.
Here is where your ego kills you, ego or, simply failutre to read charts properly in a real time basis...
Like I said, at times I succeed, and at times I get burn...
As for an opinion on the market ? hmm forget it, I will let the market what it thinks of itself, my opinion is irrelevant since I doubt the market will listen. |
