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Traders- as some of you have emailed me about the dow trade I know some are already on.I initiated my position last night 5 contracts @ 10 714 and 5 @ 10 754.If it goes over 10,800 to night I will get another 10.The goal here is to get upto 200 contracts and follow it up to around 12,000.My aim is to average 11,200.Trade well.
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What sort of clown takes a futures position based on the comments of someone posting on an internet forum?!?
Contrarian & YLB
Do you agree that his trade is a good one based on what is going on in teh world at the moment. The FED is committed to low interest rates for forseeable future,, Surely this is a gigantic positive for the DOW
I also agre that Mr B encouraging people to follow him is a little bit "Mesiah" like, and maybe a little worrying... I like Mr B though...Good luck to him, and amyone that follows him. I think they may need it!
Do you agree that his trade is a good one based on what is going on in teh world at the moment. The FED is committed to low interest rates for forseeable future,, Surely this is a gigantic positive for the DOW
I also agre that Mr B encouraging people to follow him is a little bit "Mesiah" like, and maybe a little worrying... I like Mr B though...Good luck to him, and amyone that follows him. I think they may need it!
Do you agree that his trade is a good one based on what is going on in teh world at the moment,
Actually Chisel, I don't really believe in fundamental analysis at all.
I trade options medium-term (meaning up to 1 month) based on what I see to be mistaken volatility assumptions, and I trade futures ultra-short term (usually a few minutes). Other than that, I don't seek to predict where the market will move.
Actually Chisel, I don't really believe in fundamental analysis at all.
I trade options medium-term (meaning up to 1 month) based on what I see to be mistaken volatility assumptions, and I trade futures ultra-short term (usually a few minutes). Other than that, I don't seek to predict where the market will move.
I can categorically say that it will continue to fluctuate.
Don't ever say again anyone that I don't stick my neck out like Mr B.
Don't ever say again anyone that I don't stick my neck out like Mr B.
Btw another answer to your earlier question Contrarian could equally be
A sad clown if the trade loses.
A happy clown if the trade wins.
A sad clown if the trade loses.
A happy clown if the trade wins.
I have received an email asking if the dow merely need to go above 10,800 to buy more.The key to this trade is to follow the dow up, making sure that it is going up rather than trying to get in at lower levels.Just as we had to wait for it to break out of the 10.500's and get to 10,700 it need to get above 10,800 and stay there to buy more.
Although it was very tempting to buy yesterday on the dip{ which was clearly a pure market manipulation} it was not the correct strategy.This is not a day trade.Just wait untill it gets above 10,800 then buy a few more.10 850 a few more, 10,900 a few more.Keep moving the stop up. Depends on how many contracts you will ultimatly be set for.I'm just in for 10 out of a max 200 cts posi.Some of the guys following this trade let me know they bought more on the dip.That has worked out well for them as it turns out but I will follow the buy more as it goes up stategy only.Hope that clears up any confusion.
Although it was very tempting to buy yesterday on the dip{ which was clearly a pure market manipulation} it was not the correct strategy.This is not a day trade.Just wait untill it gets above 10,800 then buy a few more.10 850 a few more, 10,900 a few more.Keep moving the stop up. Depends on how many contracts you will ultimatly be set for.I'm just in for 10 out of a max 200 cts posi.Some of the guys following this trade let me know they bought more on the dip.That has worked out well for them as it turns out but I will follow the buy more as it goes up stategy only.Hope that clears up any confusion.
Very clear.
Btw are you putting any stops on ?
Remember what the other Mr B says
" When the tide goes out you can see who is swimming naked "
Btw are you putting any stops on ?
Remember what the other Mr B says
" When the tide goes out you can see who is swimming naked "
Btw I notice that you waited until the mkt closed on the 22nd before you came in with the observation that the market retraction on the 19th was clearly just a temporary dip, clearly caused by some sort of manipulation.
Would have been a bit more impressive if you had posted that observation at any time over the weekend. Say even before the US health bill vote for example on Sunday.
Oh maybe you were just too busy to do so. Sorry.
Would have been a bit more impressive if you had posted that observation at any time over the weekend. Say even before the US health bill vote for example on Sunday.
Oh maybe you were just too busy to do so. Sorry.
Honestly, I don't know what to make of this guy anymore. Is he just innocent and subconsciously exhibiting manifestations of delusional fantasies of power, wealth, and omnipotence or is he just simply totally**ers?
This is a tough one.
This is a tough one.
Menelaus
I feel you are taking this a bit too seriously! The Guy has made it clear what he intends to do and how he is going to do it. He has oulined that he believes the Dow is on the way up.. That is exactly where it is heading!!
Can you not wish him Good Luck?? Do you nopt agree that the DOw is more likely to increase than decrease in the weeks ahead?
I feel you are taking this a bit too seriously! The Guy has made it clear what he intends to do and how he is going to do it. He has oulined that he believes the Dow is on the way up.. That is exactly where it is heading!!
Can you not wish him Good Luck?? Do you nopt agree that the DOw is more likely to increase than decrease in the weeks ahead?
Do you nopt agree that the DOw is more likely to increase than decrease in the weeks ahead?
No. And nor do you, otherwise you'd be long the futures!
No. And nor do you, otherwise you'd be long the futures!
No I wouldnt!! I do not have to have a bet to have an opinion!
All I am saying is that the trend is up, and if you had a life or death decision to make you would have to go with it.. We all know what they say about the trend!
All I am saying is that the trend is up, and if you had a life or death decision to make you would have to go with it.. We all know what they say about the trend!
Chisel,
I thought you used to ridicule technical analysis?
I thought you used to ridicule technical analysis?
Are you suggesting that Mr B stategy is based on anything technical??
I would say that Mr B is taking a punt!
I would say that Mr B is taking a punt!
You just said "the trend is up". That's a form of technical analysis.
. . . or rather, the idea that because the trend is up, it's a reason to think that it's going to continue to rise, is technical analysis.
Chisel
I think the problem may be the other way round.
We are apparently not taking this guy seriously enough and that is what is irking him.
We are not in fact criticising, or in fact even commenting, on his apparent view that the market is going to go up substantially from today's levels ( that is for him to think if he so likes to ).
Rather we are commenting on the way he proposes to ride this apparent irresisitible upwave WITHOUT ANY APPARENT ERROR EVER.
No false dips that stop him out, no fake rises that suck him in etc.
You know the usual short term timing/makt. misreading problems us other mere mortals must deal with.
The guy is, or claims to be, the perfect trader, who never appears to be tricked into any false moves in any direction. Never buys /sells too late, too early, too much or too little
Wouldn't it be lovely to be so prescient, pure and perfect?.
And yep, you're right also that I would be insanely jealous if he was even close to being as good as he claims to be.
Wouldn't you ?.
Just imagine his sort of 100 % perfect forecasting skills and market executions in the hands of somebody with real money ?
A salacious thought indeed.
Menelaus
A combo of Walter Mitty/ Elmer Fudd perhaps ?
I think the problem may be the other way round.
We are apparently not taking this guy seriously enough and that is what is irking him.
We are not in fact criticising, or in fact even commenting, on his apparent view that the market is going to go up substantially from today's levels ( that is for him to think if he so likes to ).
Rather we are commenting on the way he proposes to ride this apparent irresisitible upwave WITHOUT ANY APPARENT ERROR EVER.
No false dips that stop him out, no fake rises that suck him in etc.
You know the usual short term timing/makt. misreading problems us other mere mortals must deal with.
The guy is, or claims to be, the perfect trader, who never appears to be tricked into any false moves in any direction. Never buys /sells too late, too early, too much or too little
Wouldn't it be lovely to be so prescient, pure and perfect?.
And yep, you're right also that I would be insanely jealous if he was even close to being as good as he claims to be.
Wouldn't you ?.
Just imagine his sort of 100 % perfect forecasting skills and market executions in the hands of somebody with real money ?
A salacious thought indeed.
Menelaus
A combo of Walter Mitty/ Elmer Fudd perhaps ?
as stated yesterday I followed my method.bought 6 at 10,808 and 6 more at 10,848.Now long 22 average 10785.Get on as the train leaves the station to 12,000.You intellectuals who know everything- you just keep talking about it.
No doubt botty will accuse me of aftertiming even though I was crystal clear yesterday.This guy is looking dumber and dumber by the day.
No doubt botty will accuse me of aftertiming even though I was crystal clear yesterday.This guy is looking dumber and dumber by the day.
new homes sales tomorrow can drive ur trade either way
Biodiesel 27 Feb 23:36
cheers mrBen, have u checked out d Dow, when u get a good fall on the 1hr chart u can catch some explosive beuties, range trading but got wait for the good ones.
0% rates is keeping this eventual sinking market afloat
Biodiesel 28 Feb 17:55
MrBen
Crosses or pairs,which ones?
Mrben 01 Mar 04:14
biodesiel, thanks for the 1hr info, I will check it out.Im keeping a watch on the GPD /usd this week as it looks set for a rise.
Looks like you did! wd in anycase
cheers mrBen, have u checked out d Dow, when u get a good fall on the 1hr chart u can catch some explosive beuties, range trading but got wait for the good ones.
0% rates is keeping this eventual sinking market afloat
Biodiesel 28 Feb 17:55
MrBen
Crosses or pairs,which ones?
Mrben 01 Mar 04:14
biodesiel, thanks for the 1hr info, I will check it out.Im keeping a watch on the GPD /usd this week as it looks set for a rise.
Looks like you did! wd in anycase
Where are your stops now Mr B ?
We would like to follow those as well, with advance notice.
We would like to follow those as well, with advance notice.
Mr B
The dumber I get the richer I get. Funny that.
Btw I liked something I read the other day somewhere.
It said, to paraphrase, that all any average Australian needs to know about high finance, is that whenever the market goes down, raid the piggy bank and buy some BHP shares, and then put them in the bottom of the closet and forget about them.
Don't do anything else ever.
Good advice or not ?
The dumber I get the richer I get. Funny that.
Btw I liked something I read the other day somewhere.
It said, to paraphrase, that all any average Australian needs to know about high finance, is that whenever the market goes down, raid the piggy bank and buy some BHP shares, and then put them in the bottom of the closet and forget about them.
Don't do anything else ever.
Good advice or not ?
theres been a lot of discussion in the trading group about the short term direction of our trade.A few of the traders have much bigger positions than me and at lower averages, giving them profits of over 10k.Pretty good for two weeks trade.As a result theres a consensus that we can bail here and re buy in lower.Futures are at 10,860 as I write this.Im going to put a stop in at 10848.
Its a tiny about 1750 for me if I get stopped out.Bought 6 more last night at 10 908.Im mainly posting this for any who are following it in the forum only.
Its a tiny about 1750 for me if I get stopped out.Bought 6 more last night at 10 908.Im mainly posting this for any who are following it in the forum only.
stop moved up to 10 866, currently 10 876.Profit moves to 2300 if stopped out.
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