Apparently Not!
I recently wrote about the possibility of taking Tom Demark's prediction around his technical areas seriously. "Apparently not".
You see the whole short term market is made up of all sorts of investors and traders all over the world that are seeking returns as quickly as possible. Once again if you win they lose and vice versa. So why on earth would the market just hand you a clean sweep to the bottom. The answer is quite clear by now that it most certainly won't. Without stops and without risk management you might just as well be throwing your money out the window. I cannot for the life of me understand why traders can't figure out that the short term markets are simply a scam. You have to be able to see the set up. If you can't then you are the one being set up and you should not be trading on that day or at all. I have been bang spot on in my predictions of oil based on the technicals alone. In other words I see where the other players are putting their short term stops and so I expect the market to veer heavily to them. No I don't have some insider information or anything else. I see how traders are being set up. Sometimes that someone is me and I try not to trade. Without this ability you have no chance to trade the futures with its high leverage and ridiculous returns. There are days that I make 10% in a day on a small account. Is this sustainable? Well if you are extremely lucky you will turn this small account into a very large account in a very short period of time. However for most that will never happen. I never expect it and when I have a very good day or string of days I consider myself very lucky. With big returns come big risk. It is that simple. Anyone telling you anything else is simply lying to you and giving you false hope. The unfortunate thing is we see the odd person who beats the heavy odds and makes a small fortune. You know the Tim Sykes type of marketers like this. It gives everyone else the idea that they too can do the same thing when in essence you really can't. I suspect he'd be the first person to tell you that he makes a lot more selling his products than he does in the open market trading Penny Stocks.
People the game is rigged ok. It is deeply rigged against you.
Can you make money? Of course but not in gobs like they always tell you.
If you are a day trader you better have guts of steel as you will have both good and bad days. That is the way trading goes.
The likely probability of what happened is everyone saw Demark's remarks and saw the areas the technical market closed at. Backed up the truck, greedy for big returns and then got hammered. It is just as important to protect your capital versus making money. Trust me on that one. If you don't you won't have it. It is that simple.
Anyway I will be looking at some point to short the indexes when everyone else is NOT expecting it to fall and then you have a better chance of making cash. I wish you only the best.
You see the whole short term market is made up of all sorts of investors and traders all over the world that are seeking returns as quickly as possible. Once again if you win they lose and vice versa. So why on earth would the market just hand you a clean sweep to the bottom. The answer is quite clear by now that it most certainly won't. Without stops and without risk management you might just as well be throwing your money out the window. I cannot for the life of me understand why traders can't figure out that the short term markets are simply a scam. You have to be able to see the set up. If you can't then you are the one being set up and you should not be trading on that day or at all. I have been bang spot on in my predictions of oil based on the technicals alone. In other words I see where the other players are putting their short term stops and so I expect the market to veer heavily to them. No I don't have some insider information or anything else. I see how traders are being set up. Sometimes that someone is me and I try not to trade. Without this ability you have no chance to trade the futures with its high leverage and ridiculous returns. There are days that I make 10% in a day on a small account. Is this sustainable? Well if you are extremely lucky you will turn this small account into a very large account in a very short period of time. However for most that will never happen. I never expect it and when I have a very good day or string of days I consider myself very lucky. With big returns come big risk. It is that simple. Anyone telling you anything else is simply lying to you and giving you false hope. The unfortunate thing is we see the odd person who beats the heavy odds and makes a small fortune. You know the Tim Sykes type of marketers like this. It gives everyone else the idea that they too can do the same thing when in essence you really can't. I suspect he'd be the first person to tell you that he makes a lot more selling his products than he does in the open market trading Penny Stocks.
People the game is rigged ok. It is deeply rigged against you.
Can you make money? Of course but not in gobs like they always tell you.
If you are a day trader you better have guts of steel as you will have both good and bad days. That is the way trading goes.
The likely probability of what happened is everyone saw Demark's remarks and saw the areas the technical market closed at. Backed up the truck, greedy for big returns and then got hammered. It is just as important to protect your capital versus making money. Trust me on that one. If you don't you won't have it. It is that simple.
Anyway I will be looking at some point to short the indexes when everyone else is NOT expecting it to fall and then you have a better chance of making cash. I wish you only the best.
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