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I see the problem with some here, you think your investing strategy or platform is the only one. hahaha, ain't that always the case. You have some who think you have to buy and hold forever and others who think if you have money in the market at the end of the day your crazy. There are many strategy's and yours is not the only successful one.
i never advocate buy and hold; i say buy and manage is the way to go. like steering a ship you nudge it every so often to fit the bigger picture. BUT IT IS NEVER AN IN OR OUT THING.
there are traders and pro's who have done it quite successfuly. my daughter inlaw works for one of the most famous hedge fund managers in the world . but the truth is most amateurs suck at it long term.
the house usually beats them at their own game more times than they win over time. with markets up 2/3's of the time and down only 1/3 historically you are betting against the house when you bail on dips thinking we are heading lower.
Last edited by mathjak107; 09-15-2013 at 08:36 AM..
I missed nothing, in the last two months I sold the highs and bought back in many times the same day when the price dropped. Sorry you missed out.
Oh, okay...you are just day trading. Not just selling on the taper. Have fun with that.
It is possible to make money like that, it's just very risky. Few people (Market Watch puts it at about a 5% success rate) are ever able to do it over the long term. It's really only possible in environments where the market is jumping over 100 points a day positive or negative. Quite frankly if you have $25,000 to put in a account to do it, and that's your desire, go ahead.
It's not my investing strategy, and like Mathjak I try for longer term management.
It's funny when people talk as if no one else has already priced in these events that have been widely known for several months. As if everyone anticipates nothing and waits until the final moment to sell.
With the premarket looking like it may take a half percent bump on the fed news of Summers pullingout this may be a golden opportunity to sell at all time highs and buy back in at the end of the week. This is going to be a short rally but will make some great sell prices.
time to sell some of your positions or at min buy puts to cover yourself. I can't see how a pull back is not going to happen even a small one by fed meeting next week. Some stocks are at all time highs. Its almost like taking candy from a baby. Sell and buy back cheaper or buy puts monday. Don't be the buy and hold guys who miss the profit.
nice call! I hope you don't take your own advice seriously.
Location: RI, MA, VT, WI, IL, CA, IN (that one sucked), KY
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Quote:
Originally Posted by mathjak107
i
there are traders and pro's who have done it quite successfuly. my daughter inlaw works for one of the most famous hedge fund managers in the world . but the truth is most amateurs suck at it long term.
Most pros can't do it, the majority of managed funds don't beat the market. So yeah, most amateurs aren't going to have success at it.
I can't believe it. I guess we're just going to go on until the wheels come off again.
This reminds me of 2007 when the markets were so out-of-whack and everyone with half a brain (very few people, actually) had been beseeching Greenspan to raise interest rates and rein in the bubble.
Well, looking forward to the big drop in gold over the next few days, since it's a great time to protect one's assets.
Edit: Haha, whoops. Nope. Looks like the smart money beat me to it. It's a rare thing to see the DJIA up a point and a half and gold also up 4 points! Maybe the rally won't have the legs I was thinking...
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