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

Fujisan
http://trading-to-win.blogspot.com/2010/02/kid-you-not-or-sp500-evil-ways.html#comment-35772434
2010-04-23_1805
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…

2010-02-21_1901
http://content.screencast.com/users/Fuji-san/folders/Jing/media/bec68652-2bbc-4a6f-b46a-1388cc02c0f7/2010-02-21_1901.png

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.
2010-04-23_1808

2010-04-24_1030
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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