I find this market to be quite logical. I follow a few
trending indicators (among them the SPY system) and they're working
fine. What hasn't worked is when I've tried to outthink the
market and have decided in advance what it should do (or, what
amounts to the same thing, when I've cherry picked indicators that
confirm my bias). When I've imposed my own expectations on
the market I've gotten creamed, but the joke wasn't the market, it
was on me.
The failing of traders who aren't disciplined is cherry-picking.
The problem with news is that you can cherry-pick that too.
The result is often reacting too late or improperly.
I think that the only way to make money in the market it to
learn a few things well and stick to them. Even having too
many charts or indicators can lead to trouble (cherry-picking
again).
Most traders (and I don't mean the good ones, such as Matt,
Kobie, etc.) would be far better off today if they had invested in
Matt's long-term SPY system (the free one) and done nothing else.
If they are now also using the subscription SPY system and
the GDX system, they would be far, far ahead of the game.
Again, I speak for the majority of subscribers who need
discipline. I've learned the hard way to stop reacting to
news or a thousand charts and indicators and stick to a few tried
and true things.
dont think one can ignore a serious news comment like last
night,although there was no divergences or sell signals, I tried to
short but the market gapped and I was not goiing to chase it. It
probably depends on your time frame and if you are prepared to sit
through it?
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I find this market to
I mean seriously....could this mkt be a bigger joke?.....mad cow is back and uncle ben is riding her for all she's worth....
Posted by algyros on 25th of Jul 2011 at 10:49 am
I find this market to be quite logical. I follow a few trending indicators (among them the SPY system) and they're working fine. What hasn't worked is when I've tried to outthink the market and have decided in advance what it should do (or, what amounts to the same thing, when I've cherry picked indicators that confirm my bias). When I've imposed my own expectations on the market I've gotten creamed, but the joke wasn't the market, it was on me.
i like your comment.
Posted by dpack on 25th of Jul 2011 at 11:06 am
i like your comment.
Why should the news be ignored?
Posted by kobie on 25th of Jul 2011 at 11:06 am
I do not think news
Posted by dpack on 25th of Jul 2011 at 11:16 am
I do not think news should be ignored, AT ALL. Point to be made, the difficult thing is to discern between news and noise, IMO
dpack, this news is serious,is it because some system is on a buy that we ignore the news? Confusing!
Posted by kobie on 25th of Jul 2011 at 11:22 am
The failing of traders who
Posted by algyros on 25th of Jul 2011 at 11:29 am
The failing of traders who aren't disciplined is cherry-picking. The problem with news is that you can cherry-pick that too. The result is often reacting too late or improperly.
I think that the only way to make money in the market it to learn a few things well and stick to them. Even having too many charts or indicators can lead to trouble (cherry-picking again).
Most traders (and I don't mean the good ones, such as Matt, Kobie, etc.) would be far better off today if they had invested in Matt's long-term SPY system (the free one) and done nothing else. If they are now also using the subscription SPY system and the GDX system, they would be far, far ahead of the game.
Again, I speak for the majority of subscribers who need discipline. I've learned the hard way to stop reacting to news or a thousand charts and indicators and stick to a few tried and true things.
algyros, thanx for your valuable comment. I just ....
Posted by kobie on 25th of Jul 2011 at 11:36 am
dont think one can ignore a serious news comment like last night,although there was no divergences or sell signals, I tried to short but the market gapped and I was not goiing to chase it. It probably depends on your time frame and if you are prepared to sit through it?