SPI200 Chat - What will happen next?? *suspense music*

[ivant]

Dave Bahoric on the situation:
http://www.cnbc.com/id/15840232?video=1116512769&play=1

I love this guy. interesting views on the stress tests. Is this all really a political game? Time shall tell..

 

[ivant]

Yes they are currently correlated pretty closely. Crude is overvalued, and it is still a different market. They aren't always correlated, this is just a coincidence. I'd still be shorting the heck out of the market if i had the chance. what i am disappointed in is my timing... again. One of my many big down's in trading. Both oil and equity will go down. Watch that happen. I just hope I still have money to see that happen.

 

[Aussiest]

I hope you can too. You can still make money taking out your cash now and re-investing when a better time suits. I'm not going to enter shorts until 4000 and 4100. 4100 will be my highest. I already have one open at 3855, but i'm not too worried about it. Yet!

 

[nomore4s]

I'm not going to enter shorts until 4000 and 4100. 4100 will be my highest

Why lock yourself in like that?

Wouldn't it be more prudent to see how the price and patterns are playing out at those levels before just shorting it for the sake of shorting because it's at 4100?

 

[Aussiest]

Why lock yourself in like that?

Wouldn't it be more prudent to see how the price and patterns are playing out at those levels before just shorting it for the sake of shorting because it's at 4100?

More food for thought as usual... thanks nomore

 

[Cartman]

at least your honest ivant, beats a lot of these i sold at the top bought at the bottom tales we here so often

onya i hope it turns for your sake

Agree Nun --- refreshing quality in a young fella

Yes they are currently correlated pretty closely. Crude is overvalued, and it is still a different market. They aren't always correlated, this is just a coincidence. I'd still be shorting the heck out of the market if i had the chance. what i am disappointed in is my timing... again. One of my many big down's in trading. Both oil and equity will go down. Watch that happen. I just hope I still have money to see that happen.

Little bit of pre-stress dumping/profit taking in the US --- hope it follows thru for ya IVE

(re the timing thingy)---- i always find it odd how many people will harp on about how the "entry" is not that important etc etc ---- pretty much number one priority from where i sit !

hope the dow dumps a coupla hundred or more for ya 2nite --- your probably missing way too much sleep atm

 

[Trembling Hand]

And....who might that be, if I may politely ask? I have been looking for a dynamic news provider for a while. Although Marketwatch does a good job of free US news.

Unc, Trade The News is a good one for general market announcement & squawk. After I stop leaching off everyone's accounts I think I will settle for it. $175 US a month.

Got a free two week trial to have a look at.

 

[Bobby]

(re the timing thingy)---- i always find it odd how many people will harp on about how the "entry" is not that important etc etc ---- pretty much number one priority from where i sit !

Yes its critical for me also
Regarding live SPI data delivery speed , instant means ? or depends what vendor used

 

[beamstas]

(re the timing thingy)---- i always find it odd how many people will harp on about how the "entry" is not that important etc etc ---- pretty much number one priority from where i sit !

Entry is not important because no-one can accuratly predict the market
No one

Refer to my sig

 

[Largesse]

wouldn't carefully selecting your entry points be considered good risk management beamstas?

 

[beamstas]

wouldn't carefully selecting your entry points be considered good risk management beamstas?

I see Entry as Seperate to risk management.
If you were to put them under the same "umbrella", then yes, it would be.

Automatically new traders (newbies) concentrate heavily on the entry and exit, instead of concentrating on where the money is made (risk management)

Cheers
Brad

 

[skc]

Profit = Entry - exit. Both very important base on my equation

 

[MS+Tradesim]

Profit = Entry - exit. Both very important base on my equation

Yep. Good entries add significantly to the bottom line.

 

[Trembling Hand]

Entry is not important because no-one can accuratly predict the market
No one

Refer to my sig

Brad you have to be kidding??

skc formula is spot on.

 

[sammy84]

My

Entries provide you with an edge that enables you to make money. Money management ensures that you are able to derive a positive expectancy from your edge.

 

[beamstas]

You enter the SPI short at 4000

Is it going to go up or down

Simple question

That is an entry

Now tell me if you are going to make money

Doesn't matter where you enter the market

It's going to go up or its going to go down
Your entry doesn't dictate that (unless you are soros)

 

[Largesse]

I see where you are coming from Beamstas.
Risk management (position sizing etc) is extremely important, but ultimately a waste of time if you are consistently selecting unprofitable entry/exit points.

just my

and i am one of the noobs you refer to

 

[MS+Tradesim]

You enter the SPI short at 4000

Is it going to go up or down

Simple question

This assumes that entries give no edge in themselves and that over time they are no better than 50/50. That's common wisdom but it's wrong.

 

[Largesse]

You enter the SPI short at 4000

Is it going to go up or down

Simple question

That is an entry

Now tell me if you are going to make money

Doesn't matter where you enter the market

It's going to go up or its going to go down
Your entry doesn't dictate that (unless you are soros)

correct, but if you exit at 3999, then your risk management has left you with a loss just as much as your entry has.

 

[beamstas]

I see where you are coming from Beamstas.
Risk management (position sizing etc) is extremely important, but ultimately a waste of time if you are consistently selecting unprofitable entry/exit points.

What is a profitable entry point?

(I know what you guys are saying - as i don't enter the market on a coin toss or random signal, i understand what you are saying but im trying to make a point here )