Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

AbeSmith

8/13/07 General Trade Log / Idea Sharing

Recommended Posts

Dont trade the YM anymore but from the glance at the chart... very poor entry level. What made you long there? Im seeing no support.

 

Thanks James. I'm not trading for real, just paper trading. What made me long there was watching CNBC it seemed like the market was going to have a big opening and I wanted to get a piece of that ahead of the bell.

Share this post


Link to post
Share on other sites

Abe.. you just did the unthinkable and let CNBC decide your entry on a trade. If you plan to be a trader, you need to rethink your strategy.

 

First Rule of Trading

 

1. Never let anyone decide when or what to buy.

Share this post


Link to post
Share on other sites
Thanks James. I'm not trading for real, just paper trading. What made me long there was watching CNBC it seemed like the market was going to have a big opening and I wanted to get a piece of that ahead of the bell.

 

Abe,

Maybe one day you will take our advice here and

TURN THE TV OFF.

Share this post


Link to post
Share on other sites
Dont trade the YM anymore but from the glance at the chart... very poor entry level. What made you long there? Im seeing no support.

 

James,

So what are you up to lately? I pieced together a few things, but not sure if you clearly explained what you are trading, where, for who, etc. Just curious what you are up to since you were a die hard YM trader and now you are not trading it.

Share this post


Link to post
Share on other sites
Abe.. you just did the unthinkable and let CNBC decide your entry on a trade. If you plan to be a trader, you need to rethink your strategy.

 

First Rule of Trading

 

1. Never let anyone decide when or what to buy.

 

Thanks for the advice James.

Share this post


Link to post
Share on other sites
Abe,

Maybe one day you will take our advice here and

TURN THE TV OFF.

 

CNBC is not so bad IMO. Especially for a beginner trader, it is very informative and provides information about the events that might be driving the market. I feel I learned a lot just from watching CNBC.

Share this post


Link to post
Share on other sites

Abe, you seriously need to heed the advice of the professional traders on the board and turn that TV off man. By the time the media gets wind of something and then conveys it to you...it's too late. You need to learn to make your own decisions and not rely on some hot chick or balding fat dude to give you the trade. It's wrong on so many levels.

Share this post


Link to post
Share on other sites

Here's what you need to understand Abe - the current price already reflects any information CNBC could possibly be trying to explain. They are not sharing anything with you that the market has not already priced in.

 

If you think it's helping your trading, so be it, but I'm having trouble seeing how it helped with 2 losing trades this morning. As James said, not quite sure why there were 2 attempts to go long, outside of CNBC giving you a feeling the market was going up.

Share this post


Link to post
Share on other sites
Abe, you seriously need to heed the advice of the professional traders on the board and turn that TV off man. By the time the media gets wind of something and then conveys it to you...it's too late. You need to learn to make your own decisions and not rely on some hot chick or balding fat dude to give you the trade. It's wrong on so many levels.

 

Here's what you need to understand Abe - the current price already reflects any information CNBC could possibly be trying to explain. They are not sharing anything with you that the market has not already priced in.

 

If you think it's helping your trading, so be it, but I'm having trouble seeing how it helped with 2 losing trades this morning. As James said, not quite sure why there were 2 attempts to go long, outside of CNBC giving you a feeling the market was going up.

 

As a new trader I feel there is a lot of information on CNBC, not for immediate trading necessarily, but for getting an understanding of the market. It is interesting to me to see all the news reports and how they affect the market, and get all the analysis. So for you guys it may not be useful, but for me, at the very least, it is interesting.

Share this post


Link to post
Share on other sites

I don't see anything wrong with watching CNBC for market news, but don't base your trading decisions on the news because as everyone else said, it's already prices in the market before the news ever reaches your office...

Share this post


Link to post
Share on other sites
I don't see anything wrong with watching CNBC for market news, but don't base your trading decisions on the news because as everyone else said, it's already prices in the market before the news ever reaches your office...

 

I just want to clarify that the trade this morning was not based on the news, but on a bullish tone from CNBC. I understand that by the time news is reported on CNBC it is already priced in by the market for the most part.

Share this post


Link to post
Share on other sites
Abe, you said that the REASON for your first trade was because of CNBC. That's using it in your trading, and that's NOT good.

 

It was just based on a bullish tone from CNBC. I was wrong.

Share this post


Link to post
Share on other sites
It was just based on a bullish tone from CNBC. I was wrong.

 

Bullish tone from CNBC. If you had not been watching CNBC would you have been prone to take that trade and lose? Thats the question to ask yourself.

Share this post


Link to post
Share on other sites

Trade 4: +9. Considering trading multiple contracts so I can scale out. With one contract it is an all or nothing deal and sometimes I want to take some profit and adjust stop to even out. Especially in very volatile markets.

8-13-07T4.thumb.jpg.ffff07764809c7bdb0cb7e1fbf668cf5.jpg

Share this post


Link to post
Share on other sites
Bullish tone from CNBC. If you had not been watching CNBC would you have been prone to take that trade and lose? Thats the question to ask yourself.

 

And Im not trying to be an ass, just trying to save you the headaches from dealing with the cheerleaders :)

 

Thanks Tin. I know you're not trying to be an ass. Thanks for the advice. To answer your question, I probably would not have made the trade had I not been watching CNBC.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • NFLX Netflix stock, with a solid top of range breakout, from Stocks to Watch at https://stockconsultant.com/?NFLX  
    • NFLX Netflix stock, with a solid top of range breakout, from Stocks to Watch at https://stockconsultant.com/?NFLX  
    • It depends. If you have lots of money that you can buy a house without a loan and if you don't have any parents to sponsor then it is a good idea. Otherwise it might be a bad idea depending where in Canada you are heading to. I earned a good middle income in my home country and I migrated to Vancouver 5 years ago at the age of 35. I had to start right from the bottom, lowest of the low.. Now i am finally earning a middle income in Canada but I still cannot afford to buy a one bedroom apartment. Having left behind friends, family and home, most of the times I think it is not worth it.   In short, do not migrate if you already have a good life in your home country and you are happy. Only migrate to Canada if you really have to leave your home country say there is a war or something really bad. Discrimination still exists here and its really tough for newcomers unless you are super rich. Good luck. David Chong, Quora  
    • This is bigger than the internet. Bigger than mobile. Bigger than social media.   While everyone was distracted by stock market fluctuations and political theater…   Most people have NO IDEA what just happened last week with ChatGPT.   Their new memory feature allows ChatGPT to remember EVERYTHING about you across all your conversations.   Think about that for a minute...   While most tech companies have been collecting mere breadcrumbs about you - your likes, your clicks, your browsing history - OpenAI is now collecting the most valuable dataset in human history: your complete psychological profile.   This is Zuckerberg x 5,000.   The more you use ChatGPT, the more it understands you, becoming a supercharged reflection of yourself that improves at an exponential rate.   Are you a regular ChatGPT user?   Consider whether it’s time to turn off the “you can train on my information” feature. To prevent your data from being used for training while still using the memory feature:   Disable Model Training: Navigate to Settings > Data Controls. Toggle off "Improve the model for everyone". Manage Memory Settings: Go to Settings > Personalization > Memory. Here, you can: Turn off memory entirely. Delete specific memories. Use Temporary Chat for sessions that won't be saved or used for training. Now the investment implications…   Why This is Bigger Than You Think Consider this: the relationship between humans and ChatGPT is evolving beyond a mere tool.   People are now treating these AI assistants as friends, confidants, and even romantic partners.   I'm not making this up - there are already documented cases of people ending real human relationships to pursue “connections” with their AI companions.   A viral Instagram meme shows a person going through life with a glowing, featureless humanoid figure - representing ChatGPT - as their companion.   The post has over 1.1 million likes and comments like "Bro ChatGPT is like my best friend. Ain't even ashamed to say it" with 25,000 likes.   But here's where things get really interesting for investors and entrepreneurs...   Three Things to Watch For starters, hardware is the next big thing for the big players.   The iPhone form factor is dead.   It hasn't meaningfully changed in nearly a decade. The next evolution in hardware will be designed specifically to interface with these AI companions.   OpenAI is already working on hardware with Johnny Ive, the legendary designer behind the iPhone and iPod. But you can’t ignore Elon Musk’s edge here.   So what does all of this mean for you?   The companies that control the personal AI relationships will be worth trillions. OpenAI and Elon Musk will have the coziest moats. We're witnessing the birth of a new internet - one built on agents that can communicate with each other across platforms. Google's new agent-to-agent protocol allows AI agents to work together without sharing internal memories or tools. The hardware companies that create the perfect interface for these AI companions will dominate the next decade of technology. And almost nobody is talking about what this means.   My prediction? Within five years, most people will have a personal AI that knows them better than anyone else. And they will interact with it in ways that seem foreign today.   (And, yes, it will almost certainly have dystopian elements.)   In the meantime, the biggest gains won’t come from household names. And, right now, James is seeing a prime opportunity to invest in the most under-the-radar plays in AI…   For dirt cheap. By Chris C. Source: https://altucherconfidential.com/posts/use-chatgpt-protect-yourself-now
    • KBH KB Home stock, nice day and rally off the 50.82 support area, from Stocks to Watch at https://stockconsultant.com/?KBH      
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.