I commence with my humblest gratitude to The Most Benevolent, The Ultimate All-Knower for the gift of the knowledge and ability to share.
I have received a message from a reader of my post. He (she) stated that he (or she) had lost money, following my posts. Furthermore, he (she) added that I ought to stop posting.
On the first look at the message, it was disturbing and painful to read that someone had lost money.
Then you step back and see, what was that person was saying.
I had never asked to loose your common sense of trading. As a matter of fact, I had written two posts and explained my style of trading, go (click) here and (click) here, to read it again. If one follows my trading plan, as I had explained, then not only the risk is limited, but the rewards are extra-ordinary. I understand from my own experience of thousands of trades (if not millions), that following the trading plan, is the key to the ultimate success in the trading.
Now let’s look at my recent forecast of GOOG, posted yesterday.(click) Here is the chart again, where it stated, that “failure of this level, shall mean much lower prices for GOOG.” What my reader would have read is the complete statement, not just the later part of the forecast, i.e., “much lower prices for GOOG” Actually, we all have our own filters, that we use in our daily life (including trading) we hear and see what we want to, and filter the rest out. Now back to the GOOG forecast, if one had followed my trading plan, “failure of this level” would require that next day bar must exceed 70% of yesterday’s bar to the downside.
Did one wait for CONFIRMATION?
If you did not, then who is to blame, the forecast or the your habit of over-trading and jumping to gun to enter the trade and not wait for confirmation. Whether my forecast or anyone’s else, you follow, you are destined to loose money, if you JUST WANT TO TRADE, and not follow the trading plan.
I also had stated in my previous several posts, that when one pattern fails to do, what it is supposed to do, then opposite is true with the similar strength. Again GOOG trade, today price action was the key day to enter trade, short or long, after waiting for the confirmation of the bar exceeding 70% of the previous bar. When it exceeded the previous bar, by 70% in the opposite direction, then you knew that previous expected pattern was violated (and you are still not in the trade, yet) and you shall look for some other guideline, for example, the one posted by me, earlier. (click) Here is what I posted a forecast for GOOG higher price level beyond yesterday level. This forecast, achieved its first target yesterday or Monday and today, the second target price target was achieved.
Did you notice on the forecast the time cycles coming in for AAPL? If you had watched that on hourly chart, you would have traded and made money on AAPL as well. It stated 07/23 and 07/27 important for AAPL.
Just one AAPL trade as stated, would have meant thousands of dollars.
As a human being, we (including myself) are ungrateful creatures. We are ungrateful to Our Creator and also to others around us. We exhibit this ungrateful behavior pattern in our daily life (thus including trading). We would risk our beautiful relationship, just because one person said or did something that we did not like, and we would forget that person has done so much for us, has given us so much love in our relationship. Just based upon one thing, we would loose our mind and loose our precious friendship, and relationships, which we built over so many years. I am guilty of that, and if you look inside you, so are you!
Now did anyone trade RIMM alert, posted yesterday? It should have doubled your money, if you entered, since my entry of trade. My trade has doubled since yesterday.
http://trade-in-harmony.blogspot.com/
Dear Syed,
Please keep up the good work. I still have not taken any of your trades but and learning much. Thanks so much!
Reed
I love this blog. I know it is hard to follow someone exactly and there are no exact strategies that will work forever. As Syed wrote one need a flexible mind to trade successfully. It´s like riding a bike. We can´t learn it from a book. It has to become subconscious from practising over and over again.
Patrik
Thank you Patrik and Reed
I have made tons of money, just following the posts of Mr Syed.
He is gracious, benevolent, in the reflection of His Creator
I concur with you guys, I have yet to find someone as better forecaster than Mr Syed
He has a Midas Touch. He is one who can turn thousands into millions.
Thank you Mr Syed for your selfless efforts, and giving.
May you be blessed and keep it going, you don't how many people are harmonizing on your tunes and making money
I am grateful to you and all others!
Remain Blessed
Hmm but what about AAPL, forecast looked well, AAPL was moving down today (but of course only for a while) so i thought that everything is fine, i was on puts (i still am, with last pieces of cash..) and everyone saw what happened again, market rebounded and ended on green side.
RIMM forecast was perfect, but unfortunately i choosed AAPL..
i am also the one who is complaining a lot ("propably" losing 70% of deposit is the reason) but of course comments that you should stop posting or something like that are unacceptable.
still my opinion is that predictions in may/june were way better that now, but of course person who is responsible for losing money is person that is making trades, so: ME and no one other.
so i wish you luck and i hope i will still be able to follow your advices.
First of all, if one looks back and get all of the forecast, Mr Syed, made almost all of them were on the spot. He caught all of the turns, going back to the last year, since he started this blog. (no one is perfect, he was quick and prompt to change his views, as he advise for being flexible in your trading).
SHAME ON THOSE Who PUT THEIR MISTAKES ON MR SYED.
I love what he is doing and obviously selflessly. Trading involves risk and he so discloses in his disclaimer on this blog.
I implore him to continue to do what he is doing. He is like a lightening torch amidst the materialistic world around us.
Thank you Mr Syed
All Leaders (Like Mr Syed) cause disturbance among older style of life, as they introduce novel ideas. He is aggressive, pro-active, Mars like early (a forecaster has to be.
As Peter rightly said, trading is no child's game, risk comes with reward.
Some of his forecasts were considered outrageous, but were right on the spot, when others thought opposite. Calling top Gold top back on Dec 2nd 2009, Calling top of April 26, calling top even after May 6th drop, calling bottom on May 21 and 25th and July 1st, and so many others to name. He called out many trades for BIDU, GOOG, AAPL, GS,etc. they were right on the money. Some of his forecasts were close to the pennies of the forecasted prices. No one mentions that.
You are right, we are ungrateful bas…ds.
These baby whiners, are never happy. May be this site should turn into a paying service site, then, we can eliminate these freebies. that is my advice to Mr Syed and also to keep working forward.
No one can make everyone happy.
I know from my own experience, that we shall always people jealous, envious of somebody's else great gifts of GOD. We don't if these comments are from those who just hate to see Mr Syed progress. I had been following his work, since his forecasts at Wizetrade, WITS, Orienbelt and other Yahoo groups. His abilities has been growing ever since. I am glad to see him have his own site, where he is not threatening moderators of these forums with his giant stature.
No one can rival his forecasting ability.
I wish you success and luck and all the sincere readers of this site.
His forecast is fine. If he gets over 90% correct and 10% incorrect does not mean he deserves complaints. Its like you have a friend who helps you all the time, and one time for some reason he could not help, it does not mean that he is not your friend anymore.
You are right Angline!
I was just introduced to this site, recently, thanks to a friend.
Today I just went back to check his archive. (I suggest all new comers do that to see the excellent quality of his work)
OMG his forecasts are absolutely humongous.
Honestly he is 1000 time better than all those loonies at CNBC or Bloomberg
Hey, I think your posts are great. I took the RIMM trade. Cool. All you have to do is follow instructions.