imported post
GALLO1 wrote:
Thanks tspgo. "I've been going with my gut,"
This is a sure sign of disaster ahead. If you plan to come ahead and preserve what you have you need to have a plan (strategy) of when to buy and when to sell. Whenever your strategy says sell, you sell regardless of what your feedings are or regardless what the majority is saying. Your response should be automatic (robotic)
" which you've pointed out was not good most of the time."
You might make a couple of profitable trades by following your "gut" but at the end you end up with nothing. The market would eat you alive.
"I'm going to follow your advice and stick to the "rule". I've been hanging in at C=50, S=30, I=20 IFT today will be G=60, I=40,"
If you are not used to make frequent IFT transactions , you are in a good position holding C=50, S=30 and I=20. TA indicates that the market is set for ride to the 1250 area. Please understand that I am not offering advise to anybody. I am simply sharing with everybody my strategies. These strategies are base on chart analysis (TA) interpretation. Charts have no feelings and they have taken into account all the factors that move the market.
"In regards, to Trish's question on IFT timing, I thought that if by 11:00 a.m., an IFT was made and the effective date of the IFT was the same date of the transfer that it counted for that day."
If your IFT goes in by 11:00 am (Central Time), you would be buying and selling at today closing price. e.g.: I am going G=60, I=40 today. It implies that will be buying G at today closing price and selling my C and S at today closing price.
"I think I know the answer, and it's what Trish said that you have to wait out one entire day".
Well, he is right in a sense. If you place your order after 11:00 (CT) then you would have to wait until the next day closing to find out your buying and selling price.
"If that is the case, then my IFT today, Thursday won't actually be affective until Friday morning, even though the effective date is Thursday. And if that's the case, then I could lose my butt if everyone panics after Greenspan talk tonight, correct?"
Greenspan talk is expected today at approximately 10:00am not tonight. If everybody panics today and C and S go down drain today because what he said, then we are going with it. We would go through the earthquake but avoid the aftermath.
"I hate being a new be, when I've got 16 years behind me and I was under the impression that you just let it ride over the long run and that dollar cost averaging would make everything work out. I should have paid more attention in ECO-101".
The problem with letting it ride when you don’t have 30 years to go, is that at the end of 10, 20 or 30 years you might come up ahead. But short term is no good. Eg: TA indicate that we are ready for good leg up 1258+. Some are talking about to 1300's. But after that leg up, it is going down with force. That’s where whatever strategy you are following should count.
You are still on time. Just guard what you have and invest it wisely.
TSPGO!