Correct to everything. Good points to take on board.
Volt: Yes I trade mostly on feel, but I think I'm feeling from too many conflicting sources. I never used charts as anything more than a price guide. Dont get me wrong, i think you guys do alot of work and deserve the results. I just find over all I have had more success going on feel than a strict and rigid system. The thing I realise now is while my trading style can be flexible, I need to make my emotions flexible too. I disagree with the fact that rigidity is the only way to success, as I know a few loose punters by watching the tape have done miracles.
Mpx: Your points are well received and noted. There are some things I don't agree with, and there are some things I find extremely helpful and constructive. I think, the biggest thing I have gotten from your dissertation was that compared to you, I have a significantly higher level of ego and emotion with regards to "gut" calls that I make. This is possibly attributed to using my methodology to trade the markets which has worked in previous environments which clearly do not work in the current environment.
Loo: I'm not talking about mums and dads. I'm talking about corporates and superfunds who have cut and cashed up (thus realising tax losses) and bought back in who are sitting on massive profits at the moment. Rather than to crystalise their profits now against their tax losses realised earlier this year, it is highly probable that they have decided to hold off and book capital losses this year, to make next year's profit look absolutely fantastic (outperform). If they had a rubbish year in 08/09 no one can blame them. If they have an 09/10 year showing 123957772665% return then in 10/11 their funds will grow ridiculously. That's just my own view as I find it difficult to understand how is it there just is no profit taking anywhere.
They say a trader has to relearn the market every 7 years. Some take 7 years to learn, and by that time the market mechanics have changed.
It's humbling to note that 12 years of trading within a corporate environment makes me no smarter or more successful than any average individual who picked up this up as a hobby/full-time.
Thanks for the responses. This market is a sell by the way. Eventually.
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