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impliedvolatility
8 posts
msg #68427
Ignore impliedvolatility
10/14/2008 8:09:13 PM

I read every single post in this thread twice and I kept learning more. So thanks for your contribution. I agree with you that you have to get your mind right in order to do this mostly because it is so outside the mainstream/norm of buy and hold.

Ed Seykota said everyone gets what they want from the market. Apparently you want a consistent profitable way to take money out of the market. Really good stuff and I am glad that I had a chance to read it. Thanks again for sharing.

I would like to hear more about your exit strategy. I read the earlier post that you get out when the trade starts to break down (or words to that effect). Is this something that you get a feel for after trading the one equity for so long? Are using any technicals/candlesticks for exits? Thanks!

TheRumpledOne
6,358 posts
msg #68430
Ignore TheRumpledOne
10/14/2008 9:55:13 PM

If you really read the thread twice then you can answer you own questions.

But it should be obvious to you that there is NO WAY that this simple method can work day after day no matter how many charts I post showing that it does work each and every day. It can NOT be possible that FADING THE GAP and using the MILK THE COW strategy with a few HORIZONTAL LINES can provide a steady income stream without using squiggly line indicators derived from formulas created by those with multiple degrees of higher education. By God man, THIS IS TRADING! It isn't just some simple transaction between buyers and sellers.

I caution you against reading this thread a third time or you just might become a profitable trader.





Eman93
4,571 posts
msg #68432
Ignore Eman93
10/14/2008 11:01:52 PM

TheRumpledOne
- Ignore TheRumpledOne 10/14/2008 8:04:07 AM

I use the NY Market open but my charts are on Pacific Time at the moment.

____________________________________________________________________


Thanks

impliedvolatility
8 posts
msg #68433
Ignore impliedvolatility
10/15/2008 9:22:55 AM

TRO-

Maybe the third time is a charm?


When to take profit?
WHEN YOU SEE PRICE WEAKEN IN THE DIRECTION YOU ARE TRADING.
If price goes up a DOLLAR and it stops... EXIT! TAKE THE MONEY OFF THE TABLE. THIS IS SCALPING.
MTC is NOT swing trading or investing. That is NOT what it is designed to do.


I see your point. Thanks.

TheRumpledOne
6,358 posts
msg #68435
Ignore TheRumpledOne
10/15/2008 9:40:11 AM

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See, I told you this can't work. You only made $0.50 a share 2 times in less than 10 minutes. What's the big deal about making $1,000 per stock?



TheRumpledOne
6,358 posts
msg #68437
Ignore TheRumpledOne
modified
10/15/2008 9:44:11 AM

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So it filled the gap and then you when short and took $1.00 a share and hauled in another $1,000.00.

It's just a lucky guess, that's all. Just you wait, you'll see it doesn't work. So you're up $3,000. Big deal, you'll probably lose it all and them some the next trade.



TheRumpledOne
6,358 posts
msg #68438
Ignore TheRumpledOne
10/15/2008 9:48:18 AM

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Yeah, you're just on a lucky streak making another $1,000 when the gap filled. If you were any good, you would be using indicators.

What do you mean you're done for the day?!?!

TheRumpledOne
6,358 posts
msg #68439
Ignore TheRumpledOne
10/15/2008 9:51:44 AM

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I thought you said you were done. What do you mean you took AAPL for $.25 or more in both directions. One minute your long and then you switch and make money going short? Sounds like you can't indentify the trend. Just you wait, that whipsaw is going to get you... you'll see!!!

TheRumpledOne
6,358 posts
msg #68440
Ignore TheRumpledOne
10/15/2008 9:54:39 AM

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All you are is a ONE TRICK PONY. You trade the same stocks the same way, day after day. So what's the big deal about that? Just cause you make money, so what? Show me some new and fancy. I am so bored with this Milk the Cow/Fade the Gap crap. Get a life!!

TheRumpledOne
6,358 posts
msg #68441
Ignore TheRumpledOne
10/15/2008 10:09:44 AM

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See look at all that money you could have had!! But all you do is sit and wait for the price to come to you. Either you're lazy or too stupid to use indicators. I don't care that you made thousands of dollars in under 30 minutes. If you were any good you would be making more money. You just ain't good enough.. HA HA!! Told you so.



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