Saturday, April 24, 2010

"Lasciate ogne posizione [speranza], voi ch'intrate"

fantasy-2 Kid you NOT or SP500 Evil Ways As Of February 20th 2009

Yup…that was THAT post…but I am not going to brag about how good I am, but, what is quite unusual for me, I will talk about how good someone beside mightily ME is…
In fact – knowing (theoretically) that market continues to go up (to 1300 something) and trading against my own analysis does not make me a good trader…it rather makes me a …bad … not so great trader…
Anyhow – lets talk about good trader

On the very same day (Feb 20th) she did analysis (of something I don't understand…I am one DeMark tracked mind), but her analysis looked pretty…accurate, convincing…and proved to be …ehh…dead wrong…


But hear me up – did she pay any attention to her mistake prediction that did not materialize? (we all do our best trying to predict direction/action and we all have our share of failures) Nope – she turned 180 around like nothing ever happened  and continued successful trading based on yet new variant perception/charting.

Moral – if we wrong (and we are wrong a lot) – cut your damn losses/position/change mindset and go on with trading life…or stop trading if you cannot do that (have to admit – as I age it is becoming more and more difficult to recover from mistakes mentally and financially)

Now back to my usual DeMark-ian mambo-jumbo
Here is an updated (Kid you NOT or SP500 Evil Ways As Of February 20th 2009) chart – do not take it literally – this is JUST A CONCEPT with the final destination for up ugly leg we are in.

Really wanted to plug video here with detailed analysis of my as wrong as possible trading of Thursday's selloff, but it will be too much for one post – remind me and I will do that video – loss could have been avoided very simply…it is always something simple – is not it?

P.S. Guest posters – please coordinate with me when you will write/post so we would not post 3 posts within 2 hours – that would diminish the whole idea of keeping blog busy.  As of now I have 1 post which I will publish Sunday night/Monday morning (THANK YOU Leisa!!)
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