I'm really bad at this? Sometimes, you think you find a reason, and you know the reason, but market doesn't care. It shot up 1% after yesterday's drop.
- By removing non-essential items such as like fuel and food, we have no inflation, by having a bad retail number assures market a rate cut. So all in all, good news is good news, bad news is good news for the market, and here we go again.
- So today I did something exactly the opposite, I bought PTR calls. If China is a great bubble, PTR is one of hot stock in the bubble. The major big cap in FXI, and it has some fundamentals to support it, it finds new oil recently and China may get rid of state subsidies to oil companies so that they can control the gasoline price, therefore a great benefit for major oil companies in China.
- So I'll try both short and long and see what happens.
- As the comment said, I'm bad at this, need to shut up and give up!
- It's sad if you don't have any talent and you want to try something, you think you're good at this. You tried small, you succeeded, you figured you got it. Now you tried something big, you were dead wrong.
- What do you do? Try something new and learn from failures. Pick yourself up.
3 comments:
You're not bad; your timing is off. Believe me, I'm in the same boat--pretty much put everything I have into DXD after some successful trading (mostly gold stocks). I'm trying to keep the faith though, because eventually the truth will win out. Anyway, now that you've gone long, the fates are tempted.
Look. The market is going up until it's not going up anymore. You can keep posting what you think will happen, and what "should" happen but that is really a losing strategy. To be succesful at this you need to follow the trend. Maybe as soon as you start following the trend it will change direction, but you should stop trying to guess the direction and just trade for the rest of your life by following the market instead of trying to will it towards your thinking.
I'm long, I have very tight stops and I watch everything like a hawk, I assume the big drop is coming, but I also could be wrong so I just follow the trend. I also have a list of stocks I'd like to short like mad when the drop starts, most notably FSLR. Maybe you don't have time to watch the market as closely as I do, but if you have the time to pay attention then the risk is small that you'll miss the eventual drop.
It looks like you've bought some calls, so that's a good sign that you're now following the trend. Unfortunately it might also be a sign that bears are throwing in the towel and we've reached a top :)
And one other comment. I don't have any idea which way the market is going, and I don't really care either. I'm in this to make money, not to prove to the world how smart I am about guessing which direction the market is headed...
What are you in the market for?
Sorry to be so harsh, but I don't think you're going to learn anything from the people who are telling you that you're right and that you should just wait it out.
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