The article on the dangers of day trade was written by the same
people at the major brokerage houses that always tell you to buy
and hold, never sell. These are also the same guys who told
their clients to hold their stocks during the huge decline last
year and never tried to get them out early 2008 or late 2007.
They never attempt to time major tops and bottoms because they say
that it's impossible to time the markets; to me
that's the lazy mans
approach...as well as the crooks. Think about it, it's
the
perfect gig, just
convince people that you can't time the market, it's all random and
technical analysis is like reading tea leaves, just buy and
hold. Now your job is easy, just buy, and sell, just buy;
which requires absolutely no knowledge, discipline, etc, a child
could do it. Plus if you say it enough that it becomes
accepted as fact, it is better for your business because your
clients just stay in the market at your firm so you continue to
collect commissions and don't' leave, sure they complain once in a
while, but just keep spoon feeding them the mantra 'buy and hold'
till they shut up lol.
Look, It's really this simple, Day Traders, Swing Traders, and long term traders all
require the same thing: discipline, risk management, and handling
of ones emotions to make money. It makes no difference in the
time frame. I know VERY successful traders from all time
frames.
Also this is NOT day trading website, we have every type
of trader here from day trading to swing trading to longer term
trading. Just look at the watch list, the majority of those
trade ideas are swing traded.
Posted by daddyturtle on 12th of Jul 2009 at 06:30 pm
Buy and hold DOES work better for most, IF you're in a bull
market.
Basically, most people, such as myself, don't have the abilities
or the time (day jobs) to day trade, let alone swing trade. I
still believe for most people, buy and hold DOES work and is safer,
but of course only during a bull market. Of course
these wall street brokerages aren't going to admit a bear market,
that buy and hold is wrong, or that we should have been
transferring into the gold bull market in 2001. It would cut
into their profits. Just like real estate agents always say
it's a great time to buy.
but that's the thing about buy and hold -- hold until
WHEN? Holding only during a bull market isn't buy and hold --
its trend following, which is trading, just on a longer
time-frame. Unless you consider yourself a trader, not a
buy-and-hold investor, and are ready to take profits at the end of
the bull market, you'll hold right into the next bear market and
lose money..................Anyone following buy and hold for the
past ten years has lost money. How can that have worked
better for anyone? Depending on how you choose your
time spans, bonds have outperformed stocks again and again over the
past 35 years. Buy and hold is literally a myth.
yes, in a bull market, buy and hold is best for most people with
jobs. But it depends if you are in a secular or cyclical bull
market. We had a secular bull market from 1982 - 2000, buy and hold
was the best during that time. However from 1966 - 1982 we
had a secular bear market where the Dow went from a high of 1000
and was 800 in 1982, so it went no where for 16 years, and those
were strong inflation years! Buy and hold did not work
then. we are in another secular bear market.
Let it be known that the SEC just a short time ago did
not acknowledge the fact that Naked Shrot Selling even existed.
Sorry but I can't take what they say in general very seriously. I
had the most profitable year ever with BPT last year and this
year so far is at a better pace. Good luck.
Dangers of Day Trading According to the SEC,
The familiar Nightmare
Posted by bullbull on 11th of Jul 2009 at 02:57 pm
Dangers of Day Trading
According to the SEC, day traders should know:
The article on the dangers
Posted by matt on 12th of Jul 2009 at 11:23 am
The article on the dangers of day trade was written by the same people at the major brokerage houses that always tell you to buy and hold, never sell. These are also the same guys who told their clients to hold their stocks during the huge decline last year and never tried to get them out early 2008 or late 2007. They never attempt to time major tops and bottoms because they say that it's impossible to time the markets; to me that's the lazy mans approach...as well as the crooks. Think about it, it's the perfect gig, just convince people that you can't time the market, it's all random and technical analysis is like reading tea leaves, just buy and hold. Now your job is easy, just buy, and sell, just buy; which requires absolutely no knowledge, discipline, etc, a child could do it. Plus if you say it enough that it becomes accepted as fact, it is better for your business because your clients just stay in the market at your firm so you continue to collect commissions and don't' leave, sure they complain once in a while, but just keep spoon feeding them the mantra 'buy and hold' till they shut up lol.
Look, It's really this simple , Day Traders, Swing Traders, and long term traders all require the same thing: discipline, risk management, and handling of ones emotions to make money. It makes no difference in the time frame. I know VERY successful traders from all time frames.
Also this is NOT day trading website, we have every type of trader here from day trading to swing trading to longer term trading. Just look at the watch list, the majority of those trade ideas are swing traded.
Buy and hold DOES work
Posted by daddyturtle on 12th of Jul 2009 at 06:30 pm
Buy and hold DOES work better for most, IF you're in a bull market.
Basically, most people, such as myself, don't have the abilities or the time (day jobs) to day trade, let alone swing trade. I still believe for most people, buy and hold DOES work and is safer, but of course only during a bull market. Of course these wall street brokerages aren't going to admit a bear market, that buy and hold is wrong, or that we should have been transferring into the gold bull market in 2001. It would cut into their profits. Just like real estate agents always say it's a great time to buy.
but that's the thing about
Posted by Michael on 12th of Jul 2009 at 08:14 pm
but that's the thing about buy and hold -- hold until WHEN? Holding only during a bull market isn't buy and hold -- its trend following, which is trading, just on a longer time-frame. Unless you consider yourself a trader, not a buy-and-hold investor, and are ready to take profits at the end of the bull market, you'll hold right into the next bear market and lose money..................Anyone following buy and hold for the past ten years has lost money. How can that have worked better for anyone? Depending on how you choose your time spans, bonds have outperformed stocks again and again over the past 35 years. Buy and hold is literally a myth.
Yes, see my Sticky post
Posted by matt on 12th of Jul 2009 at 08:26 pm
Yes, see my Sticky post as well as my last post, I discuss this in detail
yes, in a bull market,
Posted by matt on 12th of Jul 2009 at 07:43 pm
yes, in a bull market, buy and hold is best for most people with jobs. But it depends if you are in a secular or cyclical bull market. We had a secular bull market from 1982 - 2000, buy and hold was the best during that time. However from 1966 - 1982 we had a secular bear market where the Dow went from a high of 1000 and was 800 in 1982, so it went no where for 16 years, and those were strong inflation years! Buy and hold did not work then. we are in another secular bear market.
I'll post some charts on my next post
Thank You SEC
Posted by ralph on 11th of Jul 2009 at 10:16 pm
I will sleep more comfortably tonight knowing you are looking out for me.
Bernie M.
SEC
Posted by rbreese on 11th of Jul 2009 at 07:25 pm
Let it be known that the SEC just a short time ago did not acknowledge the fact that Naked Shrot Selling even existed. Sorry but I can't take what they say in general very seriously. I had the most profitable year ever with BPT last year and this year so far is at a better pace. Good luck.
sec
Posted by dguerette on 11th of Jul 2009 at 04:34 pm
Was it not the SEC that was responsible to protect
us from Madoff? We need their advice???? I'll listen to Matt and Steve
every time.