[trader220]

[QUOTE=tabs;5582315]I do not care how U want to slice it...getting out at 1045 on the SP500 was a poor risk to reward decison....your downside risk at that point was minimal because 1040 was the BOTTOM OF THE TRADING RANGE...If you had wanted out you should have waited to get clsoer to the top of the range. And then you should have pulled the money out incrementally...You sold out at the BOTTOM..you lost out on a 10% move...even an idiot like myself knows that...

QUOTE]

That’s very easy to say now that the month is over. Things and phrases like “trading range” are nothing more than opinions based on your own criteria. I would say that Wayne’s criteria were different than yours. Also, when you use a phrase like “poor risk reward” you need a qualifier since what some consider “poor” others would consider prudent based on their own definition of poor. Sure at the end of Sept is easy to sit back and criticize but the question is what’s the point of doing that?
In hindsight we all should have taken New Orleans in the super bowl last year… big deal that’s easy to say now.
Being a “trader” and managing money are two vastly different things. You talk about “buyers coming in and in” LOL you don’t see 1/100th of the market and you don’t know what motivates who or what positions they have on in all kinds of connected markets.
Ask me how I know…