I think you and me have very different meaning on the word 'right' and where it is applied to. You are pretty much saying right in the sense of right with future price movements. I am saying 'right', in the sense of being right logically and through sound reasoning. If you read my posts carefully from before you will see I have always used it in that sense.
What I am against is all these unsound arguments talking about stop losses, chart patterns, or the next moves and motives of the big traders.
Being profitable in the short run doesn't mean anything if your reasons are wrong to begin with, since in the long run your luck will eventually run out. 40% or more of the gamblers come out of the casino as winners every day, with some claiming that they used Fibonacci's number to predict their roulette bets or their great strategy of always betting at a 'cold' table. You can't reasonably argue that their reasonings are correct, unless you told me that they had real ways to one up the casino such as a friend who is the dealer, which is illegal.
Some things, in my opinion, are inherently 'wrong', just through logical deduction, such as the quote I posted on Warren Buffett talking about forecasting price movements. What is 'right', according to Warren Buffett is "buying attractively priced business versus its future earning potentials and selling them when it is no longer attractively priced when viewed against the alternatives." It sounds easy, but it's actually very hard. You have to go through each balance sheet and business model very carefully and compare with other businesses out there that you could also buy. It takes hours and hours of reading and thinking.
I enjoy a good intellectual discussion, let me know your views on what I said. Anyways, thanks for not being rude and explaining your position to me. I wish you the best too!
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