dmedin

Gold closed the gap/window, now back up

Dax bounced off the second speedline/fan line, meaning uptrend is still in good shape 🥳🐮

Onwards and upwards my bonnie loon 🐮

Zut alors, Frodo Baggins

Rub 'em fer good luck, sweetheart https://www.atlasobscura.com/articles/tourists-love-to-rub-the-bronze-****-of-wall-streets-charging-bull-statue-why

It's some kind of sorcery

Zut alors Samwise Gamgee, the indices are rocketing up, up and away! Mind, best not to hold positions open overnight in case HUGE losses creep in unawares (before zooming straight back up again )

Short this smelly stinker 😠

Woo! Finally getting some action. I need to hit the jackpot a few times to recoup my losses though

I'm close to tapping out altogether; TA sounds great in theory but it just doesn't work reliably. I've lost a lot of money but worst of all, I've dedicated a lot of time to this and it just seems like a pipe dream. Especially when pumping money into an ETF and tracking the S&P 500 produces much better results with no effort

🐮🥳

Too confusing for me. All I can see is that, in hindsight, a buy and hold strategy would have been appropriate.

But it's like all the Marxists who make wonderfully sophisticated critiques of capitalism, they are good at pointing out all the flaws but what's the alternative? Every single time the U.S. indices drop they inevitably start rising again at some point, and that's been the case for over 100 years. What's the alternative?

I keep banging on about it but it really is true, how many traders beat the S&P 500 ETFs? Because most active fund managers don't ...

So I'm actually long on Wall Street just now based on technical indicators, completely ignoring the fact that Boeing is a major component of DJIA.

The most important bits are blacked out? Who cares if someone makes a good ratio if they've been demo trading or made pennies ... bearing in mind there's an S&P 500 ETF over there that will build you solid returns if you hold it for 5+ years and do absolutely nothing

Haha yes indeed!

Look, I saw there was a 'window' and put in an order to buy at around 50% retracement. The theory being, that if the window was closed and the price rebounded, it would be a fine spot to get in. But if the price pushes through the closed window then it will probably fall further.

Short U.S. equities at your peril. Big institutional investors have trillions at their disposal and can make the market move any way they wish.

From what I've seen such huge gaps are permanent and never get filled (most recently example was when Red Hat shares skyrocketed after the company got acquired by IBM), but retail traders never get to enjoy the big gains after the news is released. Fortunate are those who were holding long positions overnight though

A proven system ... nope. I have been studying TA hard, but I have not seen a single thing that I would call a 'proven system'. Certainly there are some things that have a higher probability of success than others, but I don't call that 'proven'. I call it 'slightly more likely'. And I still consider that to be gambling and an unsustainable way to make a living.

@Caseynotes I read on Babypips.com that a 'trader' is distinguished from a 'gambler' in terms of whether they have a plan/system. This actually sounds a lot like denial (and hence, perhaps indicative of an addiction). Check this out - it's pretty much the definition of a trader: https://en.wikipedia.org/wiki/Betting_strategy This is pretty serious stuff. A lot of people lose a lot of money, and they even keep coming back after they've 'blown' their original accounts. That's gambling addiction, pure and simple.

Never been able to find anything that reliably makes profits ... as far as I can see all of technical analysis is pretty much random, hence the reason why there are so man indicators (they are all equally useless) ... I suppose people that do keep it to themselves which is why we only ever heard of traders losing.

Ah yes, to be an 'insider' with that information to hand before it is released publicly.

It is though. Look at it sliding up and down like a trombone recently😱