Wow... You know, personally, I have nothing but contempt for market predictions - be they Prada's or of some highly paid TV market guru. Having said that, reading Prada's posts never made me doubt as to his level headedness and professional attitude toward trading. However, the last 3-4 posts do make me wonder about their posters for the same.
I have immense respect for Prada. Visting his thread never made me feel as if I wasted my time the way many other thread make me. He is polite, formal in his approach, doesn't try to force his views down anyone's throat, and above all, he writes in impeccable english. A pleasure to read, always.
I have immense respect for Prada. Visting his thread never made me feel as if I wasted my time the way many other thread make me. He is polite, formal in his approach, doesn't try to force his views down anyone's throat, and above all, he writes in impeccable english. A pleasure to read, always.
that is exactly why i questioned him, since he seems receptive to being questioned...
but he is not to blame, each & every elliotician who i am in touch with were looking for a bad bear market since the beginning of this bull... many stages they called it a top... & were proven wrong... a few called tops at 4900 (last year) then 52/55/57/5900...
U say last 5 years bear mkt, I say after 5 year massive bull mkt (03/08) 5 yrs consolidation (which is excellent) 52/5300 is the key... for the massive bull mkt ahead of us to make a final couple yrs run... banks / auto / pharma / IT all either consolidating or in new bull mkt highs already... oil (the mega giants) all waking up after the current steps being taken by govt. I see is a quarter of correction after 4 quarters upmove of HH HLs... weekly charts were highly over bought...
beauty eye beholder etc etc
beauty eye beholder etc etc
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Dear Fellow members, there is nothing wrong in posting your honest opinions out here. I will take your criticism in a positive way. The rally witnessed in the equity markets is not driven by fundamentals. Cheap money sloshing around the world is creating a very dangerous situation which is bound to end in a disaster sooner than later. One might say- who cares as long as one makes quick bucks. But as long as equity markets are not driven by fundamentals, sustenance of the rally will always remain a question mark! History will support this view.
Trade the chart and the trend. Use the tools you understand and believe in. No need to post any thing about that. Set your stop losses when ever and where ever you feel or convert in what ever you know. All the rest is just a waste of time discussing what may will happen. Chance is always 50 : 50 if you do not hit the odds. But so far not much about odds have been posted here. So what?
Dan, when you say one should trade the chart and the trend, do you stop for a moment and think what will happen if everyone does that? There will be no trading. Hell, there will be no market left to trade! Because everybody would be as clever as the next guy!
It is the ignorant of the market movements who buys in the middle or at the top of the market rallies from the profit booking knowledgable punters, and then gets left hanging on top with no more buyers, and then sell at loss in panic! That has always been the case. Will always be as long as human beings are what they are. So, saying words like these might look impressive to the foolish and gullible but in reality they are hollow and of little value to the one who knows better.
It is the ignorant of the market movements who buys in the middle or at the top of the market rallies from the profit booking knowledgable punters, and then gets left hanging on top with no more buyers, and then sell at loss in panic! That has always been the case. Will always be as long as human beings are what they are. So, saying words like these might look impressive to the foolish and gullible but in reality they are hollow and of little value to the one who knows better.
Well, you have to think and analyze the trend on the chart and how to handle and trade it. I have not told any word about going in on top of it or in the middle or what ever. Just trade the chart and the trend.
But if you want to know: Yes, you can do that. You can enter a trend on the top, in the middle and on the bottom range. How?
If people do not know that part, then maybe they should not trade trends, as they maybe then will belong to what you just posted.
You have to trade strategies which can handle that. As I am not a pure future trader, I can not speak for those kind of traders. But there is an other world in trading which is far behind pure future trading. Behind in dept and not behind in knowledge. Just to stay clear with that. Both worlds are fine and both worlds have therer disadvantages and advatages. But taking in account that one is better then the other one shows of little knowledge of either one side.
I can not speak for those people you seem to take in account for your self you can speak of. Do not know from where you take that, but is no problem for me. Others have to value that.
Take care / DanPickUp
Dan, you haven't understood a single word I wrote. Your understanding of English language seems quite poor, sorry to say. Improve it and then get back to me. Although, you being a very dear friend of mine, I wish I could write my previous post in your native language, German. But I am ashamed to say that over the years my German has become quite rusty and now is as poor as your English. So we are both stuck!
And by the way, do listen to the songs I posted specially for you in Diary of a trader part 2 thread. Good night bro.
And by the way, do listen to the songs I posted specially for you in Diary of a trader part 2 thread. Good night bro.
Dan, you haven't understood a single word I wrote. Your understanding of English language seems quite poor, sorry to say. Improve it and then get back to me. Although, you being a very dear friend of mine, I wish I could write my previous post in your native language, German. But I am ashamed to say that over the years my German has become quite rusty and now is as poor as your English. So we are both stuck!
And by the way, do listen to the songs I posted specially for you in Diary of a trader part 2 thread. Good night bro.
And by the way, do listen to the songs I posted specially for you in Diary of a trader part 2 thread. Good night bro.
By the way: If you want to post any music, there is a thread which is called: Traderjis international music box.
Take care / DanPickUp
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