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View Full Version : Post deleted by Mat Sklansky

goodedesign
12-08-2004, 05:27 AM
adios
12-08-2004, 05:41 AM
How about this, I view books that tell me how to "beat the market" with a great deal of skepticism. As far as TA I find much of the chart analysis highly subjective and the analysis for the most part qualitative. I see little quantitative data that the buy and sell signals generated by TA offer superior returns. Doesn't mean I'm not open minded about TA though and I realize TA can encompass more than chart reading.
goodedesign
12-08-2004, 01:57 PM
DesertCat
12-08-2004, 03:26 PM
I don't use technicals, just as I don't use astrology or witchcraft to help me make decisions. And using stop loss orders is an indication you don't understand the intrinsic value of the stock and shouldn't be investing in it at all.
Joe Tall
12-08-2004, 04:03 PM
Been on this site for years:

www.clearstation.com (http://www.clearstation.com)

Peace,
Joe Tall
adios
12-08-2004, 07:33 PM
I have a super secret proprietary system that works tremendously that I'd be willing to sell you. Warning, it isn't cheap /images/graemlins/smile.gif.
goodedesign
12-08-2004, 07:57 PM
joop
12-08-2004, 09:45 PM
He actually said he didn't use stops.
goodedesign
12-09-2004, 01:37 AM
joop
12-09-2004, 07:33 AM
How is using a limit order any different from using a market order, in terms of having market makers gun for your stop? I don't get it.
goodedesign
12-09-2004, 07:49 AM
joop
12-09-2004, 11:18 AM
[ QUOTE ]
oh, no dif.
you could use a stop limit order but that's very rare.
I never use a stop, just because it puts in a market order. and that bothers me. no frickin market maker's getting my money without a fight at least.

[/ QUOTE ]

If there's no difference, what were you going on about in that post about the CNBC survey?

Using a limit order isn't rare at all, in fact I'd say that's what most traders use to automatically exit their trades at a loss. Whereas they generally use a market order for profit taking exits.
goodedesign
12-09-2004, 11:25 AM
joop
12-09-2004, 11:57 AM
No, it doesn't answer my question. You seem to keep going off on a tangent.

I asked you why you posted the results of the CNBC poll, when you agreed there is no difference between a market maker gunning for a stop order, or a limit order.

You seem to be confused, when people refer a 'stop', they are in fact referring to their 'stoploss' order. This could be either a stop-market order, or a stop-limit order. It makes no difference, at the end of the day, if you have any order resting in the market that the market makers can see - you may be asking for trouble.

This is why I don't trade markets that have market makers.
goodedesign
12-09-2004, 12:14 PM
joop
12-09-2004, 12:35 PM
Yes, many stop-market orders around a specific price can cause this kind of 'landslide' effect. This is why as I said in my previous post, most traders use stop-limit orders for their stoploss.

This CNBC poll still bugs me though.

[ QUOTE ]
75% of them used Market orders
25% use limit orders

of those polled...

75% of them reported consistent losses
25% of them reported consistent profits


[/ QUOTE ]

Did the poll say whether they were using market order to enter their positions, or were they referring to stoploss orders?

This poll seems to have very little validity regardless. It is kinda like saying 75% of men drive cars and of the same men polled, 75% are bald. The survey implies causation where none exists.