I actually wanted to do a post yesterday on 'Lurkers' Thread. I'll be honest in saying that I read/follow the XJO post religiously. I feel good that the thread has evolved into a daily thread. Why don't I make a post? The answer is simple. I do not have substance. I tried my best in learning and using some of the techniques but for me unfortunately my start was in 2008, which was a volatile period. The start was good but couldn't finish up well only due to personal characteristics, nothing wrong with the markets or techniques I have learnt. But it is the application of the techniques and I will say that I depend on my luck. None of this cycles, fibs, pennants, triangles works for me. My timing is such that. For eg. after learning some practical lessons during 08-09, I took a position in OST on 31/10/11 @1.24, a relatively small position based on higher lows and MAcd divergence at that time in point, only for them to release a negatively biased announcement just 2 days after I took a position, which was completely unexpected. So here goes my luck. Anyway, I do have a strategy in place and I work on a system that suits me. Having mentioned my losing trade, I also would like to point out that I have managed to make a portfolio of stocks, just as an experiment to see where they'll be in next 20 yrs. I have developed my portfolio from July this year and it is not worth much in $ terms. But i'm happy to see what it does over a longer time period. Actually when I started to get back in Market in July this year, I thought I'll just buy and hold and never trade, in order to develop personal wealth. But as I told you before, as soon as I entered the market, its descent accelerated and I'm left with no choice but to make the best of trading opportunites provided. Thats how my present portfolio got developed.
Having declared about my personal involvement with the markets, I would like to put forward a main point that crept into my mind today. "beware of the full moon / new moon days" even if you don't believe them. It makes some unusual/unkind stuff to happen.
I appreciate and thankfull to all the posters who take their time and effort to pass on their knowledge/skills on this forum. Just on selfish note, I hope that atleast the thread stays as it is, or to better with some additional postings coming along.
On a personal note, I'm amazed at how yotta came up with targets on his chart with date and price printed in Oct and the targets were met with almost picture perfect, how cyclichigh did his charts to come up with 'I'm going long with everything I have' around Oct (You can look for a thread titled 'doing it nude' by Bigdd). To redbacka, I just want to say thank you for your daily summaries and weekend analysis. I thought this thread was almost gone, that is when Bigdaddy just jumped out of no where that created a buzz and kept it alive. I just realised my post is getting bigger & bigger with almost no substance, so I won't name all other regular and occasional posters who make valuable contributions on this forum. You can be assured that I read all the post on this XJO thread and thank you for providing such insights and thought processes. I'm hopeless in using them though, only due to lack of personal trading skills. Also I won't touch futures or forex markets as they are not my cuppa to play with.
Please kindly take care during this 'moon period', we'll be all OK.
(20min delay)