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Eric,

“I haven't met a rich technician” Jim Rogers

Your latest post is perfect. I can confirm the above statement from personal experience over 40 years of investing . I have finally learned that to have your money in the right long term trend is the only way to make money. But then you have to buy low and sit tight and not second guess the markets. They will shake you out at the wrong time but you will so believe what the chart is telling you: H&S tops are the perfect example. I can't tell you how many there were in the tech stocks all the way to the top.

My experience is that I can trade a market but only for so long and get it right, then the market will come along and take my money. If I had just realized the long trend and stayed with it I would have been way better off. This is so true of the monetary metals and their current bull phase as well as other areas. BUT IT IS SO HARD TO SIT.

Now I trade only 10% of what I have so I can "feed the beast within" and keep him happy without it affecting my long term welfare. Been there done that.

I like Jimmy Rogers because he is so upfront and honest. He is always saying that he is a lousy short term timer and that he doesn't think it gets in the way of riches.

It's posts like yours that remind us all of the proper attitude it takes to deal with computer and high frequency trading....it's all noise...not the real deal.

Thanks,
Denny