Enjoyed the dialogue this week. Refreshing to hear your comments in real time.
I gotta tell you I was about to swear off from these boards/posting...(and I guess I'm a slow learner re: tech); however, with the ignore filter on; and having struck up an ongoing "conversation," it's actually quite pleasant.
It's a priviledge you guys are willing to share your trade banter/and knowledge. I appreciate it.
Thanks again, best regards,
that was a VERY well written scenerio of how
trading works and what can happen.
all trendreeder is or would be doing is posting is trades real time. he is not commiting fraud or telling people what to do.
he is simply posting his trades.
you made a reference to Tokyo Joe and the SEC.
you can see from link above, Toyko Joe
was selling subscriptions, accumlating large positions in non liquid stocks, and then selling them as soon as he recommended, commiting fraud. if he had disclosed he owned positions in those stocks and would sell those
positions as soon as he recommended them to his subscribers, the sec would not have had any recourse. what Toyko Joe did was completely wrong., yes
trendreeder is simply posting his trades and only doing that in real time. RIMM has a multibillion market cap. from what i see he only trades large cap companies. he's not selling anything or controlling illiquid stocks.
trend has made me money, but do not follow all his trades. I followed his first trade on Friday but did not do the one labeled "train wreck". You gotta admit he is good and by far the best trader i've ever seen, he admits
he does not win every trade though.
in the last year, i've made the majority of my money selling naked call options, because most options expire worthless. trend gives me something that needed and that's trading.
"a newbie following isn't going to be disciplined, is going to take losses, maybe even huge losses. does that expose anyone who posted a trade they followed to any kind of liability? it is something to ponder."
it is a valid point, but investors need make
good trading decisions. if someone loses money from trendreeder on a trade, it is most likely they would lose money trading advice from someone else. Again, trend is just posting his trades and his accuracy can be openly researched and successfully debated.
If trend was selling a recommendation service in non liquid stocks, and then selling these stocks when he recommended them, then he would be in trouble. i just want to stress he is only posting his trades, which is ok to do.
tug, i enjoy your posts very much on this board. just wanted to express my point of view.
sincerely and best trading,
Re: Trend, cc, tug and all others.....
by: tugofwargame 02/26/05 09:34 am
Msg: 270898 of 270952
i see we're all serious this a/m.
and some things you say and point out are also worth repeating.
"....He didn't want someone knowing what he was doing for many reasons, but mostly because he didn't want to be "talked out" of making a trade...."
"...posting all your trades......... can be time consuming and distracting."
I am not a day trader, and therefore, watching one's message board calls "to enter or exit" a trade, would only be educational for me in my form of short term option trading. This will be helpful in entry and exit points, for the day or for a few days trades. I am anxious to learn the nitty gritty that day traders know, in when to play them and when to fold them.
You're right/seems we're all serious this a.m.
Anyway, listen-just quick scanned your below post...
Have a bunch of thoughts I want to put down on this/will post later. Gotta run and get some breakfast together for my crew.
Yeah, been looking at your comment NotaBull, and I agree with almost all of them.
I do a small bit of b&h, and I agree that the long haul could mean 'teens for RIMM.
I do suspect that upside runs/manipulations, etc. will be present all along the longer journey south. I'll continue to smack it around.
Nice observation, btw, on the body language aspect of that conference. Tell sign.
I'll continue to play RIMM long/short, makes no difference to me. I do like to catch the longer intraday rides when they materialize.
Many analogies to surfing, of course.
So, my gut is on Mon or Tue. we'll see a session that provides an upside run of equal magnitude/speed. I'll be in the water, paddling the board, and ride it when it comes.
Always watching the horizon, you know. Here's a goofy one, even named a trade in my "playbook" Big Wednesday....
TR, I was away from the board yesterday but read back through the board when I got home last evening. I think this MB served as a perfect sounding board yesterday when you went against a lot of folks and kept your long. I understand why you did stay on that side as long as you did. It just 'had' to bounce at some point, but it didn't. (I was thinking the same thing, BTW) Be that as it may, there were people posting that you should sell and take the loss right up until you finally relented. You win some and you lose some, that's the way it is sometimes. I give you credit for sticking to your methodology and stating so publicly because in the long run the averages will work in your favor. While no one likes losing (as you stated) you are WAY up on this game. Live to play another day ...
I'm more of a swing trader than a day trader so while I don't really like to hold things over the weekend, I will do so if I think the situation merits. There have been many well-stated comments regarding the hammer being swallowed by Friday's trade, something that we know is a rarity with a hammer of that size. I'll be reassessing over the weekend, but I'm sensing A LOT of pessimism here. Similar to GOOG prior to EPS release and EBAY about 2 weeks ago. Both of those situations turned out to the upside (if only for a couple of days). Should be interesting.