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North American Palladium Limited ┼×irket Message Board

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  • TxTraderMan TxTraderMan Feb 1, 2010 2:13 PM Flag

    Downtrend still in place, don't be fooled

    You may be right longer term, but as my handle indicates I'm a short term trader and anything that spikes up 20% in a few hours is on my radar to short with a tight stop. Again, my time frame is minutes and hours to a few days.

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    • It is interesting that a quick look at your message histories shows that you are bearish on EVERYTHING....I wonder what that means. Good luck paid basher.

    • There's a reason why all the "Day Trading" firms of the late 90's and early 200's went belly up. In spite of the volatility and strategies that traders thought they could capitalize on via T/A and all manner of program trades and such, virtually 99% of them ended up bankrupt and penniless.

      Day Trading is little more than high risk trend gambling.

      I like T/A, short, mid, long term trends, volume analysis, gap filling, etc etc etc etc.... but I like it a lot better as only a single tool in an arsenal that rests on a solid foundation of fundamentals, global economic conditions, profitability and growth models, et al.

      Counter trading on big spikes carries the same logic gap as the 'gambler's fallacy'. Gee Martha, red came up 15 times in a row on this rouklette wheel so I'll just keep doubling my 'black' bet each roll until I win cause it's due!

      Millions have thought they hit the perfect 'system' with some version or other of Gambler's fallacy, assigend to some game or other, including equity trades. Any of them who tried to employ it systematically over long periods of time went 'broke' long ago.