N Rothschild
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copper is another good one to track
copper is another good one to track
Trader333
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Thousands upon thousands of losing traders but only one George Soros and no one has been able to replicate his success. The only point I was making is that whatever the opinions may be the current price is all that you have.
I have seen numerous traders go bust with the view that the market was wrong and I haven't seen any go bust that took the view that the market is always right.
But that is only my view.
Paul
I have seen numerous traders go bust with the view that the market was wrong and I haven't seen any go bust that took the view that the market is always right.
But that is only my view.
Paul
I agree... Although I am in the uneasy camp about the current price action.. especially today with a fairly big S&P rally and the Dollar gaining strength..
BUT.. I am begining to form the opinion that it is just too obvious that the market will stop and reverse to let all those who missed the first rally to get in !!!
Thinking like a ruthless trader I want to keep pushing the price higher and higher and not let those who missed out an easy chance to join the fun... and when they do finally come on helping with the price... thats when its too late and I am going to F**k them and run for the exit..
The only thing I am not sure of is when that might be... but I am sure it wont be when everyone says it is.. that I do know...
I read in the press that its going to be in the autumn when all the big boys return from holiday...
yeah right...
N Rothschild
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if markets were always right we wouldnt be in this situation would we..selling worthless AAA rated securities etc
Markets aren't always right, you can't really say they are right or wrong they just are...i don't think it really has any relevance to trading success either.
Surely keeping an open mind is the most important point because although the market can never be wrong, people can be. I think there is also a habit of avoiding some issues until they become too big to avoid, unemployment is maybe one of these things. But that is no reason not to hop on the trend.
Surely keeping an open mind is the most important point because although the market can never be wrong, people can be. I think there is also a habit of avoiding some issues until they become too big to avoid, unemployment is maybe one of these things. But that is no reason not to hop on the trend.
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Atilla
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Market is a place where buyers and sellers meet - agree a price and exchange goods and services...
Perfect information is assumed between all sellers and buyers at reaching an equilibrium price. :cheesy::cheesy::cheesy:
N Rothschild
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except there is no perfect information without hind sight and markers do not tend towards equilibrian..where the hell do you think bubbles come from?
Atilla
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Assume you are going to buy a new Telly!
Do you shop around? Do you check out where your Sony model is sold? In which shops and for what price?
Would you not agree that suppliers and sellers advertise and negotiate best prices?
You will shop around sufficiently when you have perfect information appropriate to your temperament.
Markets do tend towards an equilibrium. ALWAYS! If there is profit to be had someone will sooner or later fill that demand for a price.
As for your bubbles it depends whether you are in the bath, swimming pool or in the big wide ocean somewhere... :cheesy::cheesy::cheesy:
N Rothschild
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couldn't disagree with you more strongly.
Atilla
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So you suggesting trades are based on the assumption one has imperfect knowledge?
N Rothschild
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yes
Atilla
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Interesting stuff. Dare I say - I disagree very strongly but no wish to get embroiled as I don't feel you guys know much about supply and demand or price constantly moving towards equilibrium. If you deny this very fundamental principal then you guys are crazy whackos.
As for bubbles I assume you are talking about economic cycles. Volumes have been written on this subject. I suppose you could try and build a case where the media cause these cycles one way or another - there is always a first... :whistling
Just to roll back before we went off on this bubble tangent - market is a place where buyers and sellers come together and agree on a price for the exchange of goods and services. That price always gravitates towards equilibrium.
At an academic level it would be fascinating to build economic theory based on imperfect knowledge and imperfect purchasing decisions. I guess we all make mistakes.
Atilla
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Money no object to you then?
N Rothschild
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what you on about..if you think markets always tend towards equilibiram please explain the boom bust cycle then? you think at the height of house prices in the UK that was the equilibrium?
Atilla
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Go to the library and get a good book on economic cycles. Or in your case bubbles... :cheesy:
Atilla
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Perfect information is only an assumption that is made in determining pricing theory based on supply and demand.
It proximates towards users actions in a market place.
Pose the question before one buys a car what market research does anyone carry out before making a purchasing decision?
Who does not gather as much information about product and price as possible before buying?
Who goes out and buys the first car of choice from the nearest dealer?
Everybody does market research whether one is a buyer or seller!
Is this an incorrect assumption?
