Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: Nihontochicken who wrote (11908)	9/23/2008 11:45:07 AM
From: SliderOnTheBlack	7 Recommendations Read Replies (4) \| Respond to of 50337

re:["May or may not be the right answer, but at least it's straight forward"] From the "Rich Dad’s Guide to Investing in Gold and Silver” You've got to be kidding me? And you don't care whether an answer is right, or wrong, just that it's straight forward? ...and let me guess how many goldbug newsletters you're subscribed to (lol!) This is a first. I'm going to call it -- a mercy kill. A ban for complete and total stupidity. Please do take it personally NC. You've been an ankle biting whiner ever since you've been here. And I've always wondered why you were here in the first place? Now people are going to take what I'm going to say next in the wrong way... but, it needs to be said anyway... I used to despise what I originally perceived as arrogance among veteran traders who viewed the public as imbeciles. The sad reality is that they were neither arrogant, or wrong. I hate to concede to that fact, because it doesn't feel right. But, it's true. And trading isn't about feelings, it's about undeniable truths that cut to reality, like hot knives through butter. And it has nothing to do with social standing, education, or intelligence. But rather everything to do with DNA. With how one is wired emotionally. With how one reacts to fear and greed. And that reaction determines whether you are in the 10%, or in the 90%. And as far as - "a straight forward answer. May or may not be the right answer, but at least it's straight forward." Not every market moment is cut and dried. Last December we had a sell off in gold and gold shares, and I said to "back up the truck" because with the Fed just starting to cut rates it seemed like a very low risk, no-brainer to back up the truck and stay long & strong gold and pm stocks. And it was. And again here of late, after the Fed had stopped cutting rates, after the dollar had stopped going down, after the Fed started tightening money supply, after the global economies rolled into recession, it seemed liked a good time to sell gold, and pm stocks... and it was. And here now, with the Fed pushed into a tight spot, in having to inflate to stop a deflationary asset spiral, gold and gold stocks look extremely cheap, and like a solid bet. And we've already had a nice trading pop. But now you want a prediction of the future, before we even know what the bailout and stimulus package is? Who can possibly know whether this stimulus/bailout package will work, when we don't even #@$%'n know what it is yet!?!?!? Here's the right anwer to your question... You either get it, or you don't. It's that simple. Get it... and you will have a blank check for the rest of your life - I guarantee it. This is THE single greatest pearl of trading wisdom anyone has ever bestowed upon me... "Trading is NOT about predicting market directions in the future. It's about identifying discrepancies between price and risk in the present." ...print that out. And every once in a while, especially at difficult market turns, take it out, and think about it. And regarding "thinking"... here's another pearl... "In tough markets, spend more time thinking than trading, because strategy always trumps tactics." That's enough for now, I have to go for a walk, after that "Rich Dad's guide to gold..." I need some fresh air, and some time to restore my last remaining hope for humanity. Is this -- really that hard to understand? Is anyone "getting this"? S.O.T.B.