Wednesday, June 12, 2013

Wednesday S&M Show Podcast

Share buybacks ... not all good.

Libertango (I've Seen That Face Before) - Grace Jones

1 comment:

bruno said...

After volatile whipsawing markets,whether it is stocks,fx or commodities,it is usually the markets shaking out weak longs and shorts.It is a percussor of bigger things to come.That will mean that the next trend following phrase is just round the corner,be it be up or down.

The Nikkei or fx markets are like the cowboy towns of Medan and Haadyai in the sixties and seventies,where bands of armed mauraders roam the streets in daylight like their grandfathers owned them.

These type of markets are not good for the chicken hearted traders.Especially traders with tight stops or small accounts,as they will have their marbles kick around like bolas.In these type of markets traders should be prepared to come in with their sleeves rolled up and ready for a bare knuckles bout.Be ready to lose big and be able to sleep easy.

Or else stay away,protect your money and keep your accounts intact.Be patience,bid your time and wait for the markets to consolidate and buy the next breakout,either up or down.Never over trade,unless you know what you are doing.

For myself,I just love these volatile markets.Depending on market conditions,I can be in a trade from minutes to days or weeks.I only pay any attention to really major news or else forget about it.Paying any attention and trading on any news and the trader doesn't know what he/she is doing.

Do your own homework,and once in a while tuned into market commentators and listen to what they say.The majority of these commentators usually agree with each other.It is good if you and them have differing views.That way if the markets does not agree with them then you will know that you are right.It is just that simple.To be able to survive as a trader one has to at least trade against the crowd seventy percent of the time.Pick a few simple tools that will work for you and believe in them.And never argue with the markets,cut your loses when they are small and put trailing stops on your profits to protect them.