I got absolutly slaughtered today

[john_1]

We always talk about our winners but today I traded like an idiot, broke every rule and lost a small pile of cash. I have to say I have become so used to the constant down moves that I trade the upside like a ...

[Shard]

I had one of those last week, I traded the downside badly though.

[#3]

Johny boy...premature again....just short the rallies...but u gotta wait for the rallies....only one small loss day this whole month....which is not good...shows I am being to cautious....but maybe thats the only way to survive...

[#4]

Can't say I got "slaughtered", but I also didn't make targets. The drop in the last hour of trade helped a little.

[venice]

I did the same, I am a natural bear so today 20 trades and ended the day square thanks to a last ditch short after the bell. My MOJO has left the building.The one thing I can see with the ALSI that I have to learn is just do ,don't think because by the time you do its all over. But yeah John I feel your pain, that deep aching kind, all that effort for FA. Must say it does help to know someone else is in your shoes. By the way anybody who made a gazillion point today this would not be the place to say so. Ranting only

[#6]

Wena...keen to know what your targets are...

[venice]

Chartist are you saying that at this point you weren't long at all, just patiently waiting for shorts?? or am I not understanding you??

[#8]

John...I dont understand you comments about the long and the short side...there were actually more points on the short side...(we closed below the open)

[#9]

no.....i went long when we went through resistance...this was a no brainer...a ceratin 100 pts (was actually 200) and then we we made a double to it was pretty obvious what would happen....the short was definitely the play of the day....divergence on RSI and momentum ...if you couldn't see that short coming u need to stop trading for a while

[venice]

That is an excellent point I must say also answers my question. Chartist when/ what indicator would you use to decide when to change your position. My trendline through the highs on an hourly chart indicated that todays open was above the trendline and hence my bullish stance, do you use something else?

[venice]

But yeah I saw the divergence and was short which was how I ended flush. And thanks for the input all alsi traders it really all helps even small comments add.

[#12]

Venice...I keep it very very simple...at the moment looking at what happened a few days before is really not useful...ppl are trading in the moment....more than I have ever seen...so just keep focussed on today (and of course the gaps) so we went through 19400 ...i just went long and took 100 pts...if i trade against the trend then u need to just take what u can get and get out...then when we failed to make new highs it was a short....this is the most basic principle of TA...the market is actually telling you loud and clear...I cannot go any further..but there is another thing...so the Dow ended negative last night...then suddenly its up like 300 pts on the open...so do u think the fact that the US gave to money to shore up emerging market currencies warrants this move? no of course not the dow futures was driven up by ppl not in the US ...ppl getting their vision clouded by whats happening around them...so ask yourself was there really anything else but for the dow to close its gap...whic it is doing now...

[Picky]

hey john, sorry to hear that, but am also pleased that your knocks are are not pushed under the carpet. Tell it like is is, allways makes you a winner everytime!

[Wizard]

This looks like the early stages of a Bull Run...It was the right time for the low to come(late October). The Bull has always enjoyed Thanksgiving>> Christmas>> Valentines day

[YNWA]

....yep Wiz...but...only ços the knife on some other poor victims throat...Thanksgiving = Turkey....Christmas = Pig.....Valentine = Male Homo Sapien... they all get eaten, spat out 'n then fed to the dogs....furkin Turkey gets nailed at Christmas again!!....a word of warning....veal is popular in Eurozone & the land of Lincoln....this little bulletjie might not see the day his nuts drop.

[louisg]

John, sorry for your losses. Us "unambitious" long termers were fortunate enough to make a FORTUNE the last coupla days.

[john_1]

To put my loss in perspective..I made over R100 000 in the last 10 days yesterday I lost R5600.. I was just paying wages.

[venice]

Thanks Chartist good info.

[Stij]

louisg, if you call that 14% gain over 2 days a "FORTUNE", what term would you use for the 40% drop which you have held through over the last 5 months? You only make a profit once you've sold higher than where you bought... don't get me wrong, I'm also a long-term investor. Just curious about your reasoning here ;-)

[louisg]

Actually just short of 26% up for my portfolio. I don't believe in anchorage, whereby my initial purchase price dictates my decision making going forward. Every day there is a new dawn. I base my decisions on where I AM not where I WAS.