I learned to make provocative headlines from a good friend of mine (you know who you are Brian :-) ) ... But it's a little bit true ... Brian ( @alphatrends) is wrong when he keeps saying "Only PRICE pays". It never bothered me when only he tweeted it, but more and more recently I see others stealing the quote.
I am actually surprised at Brian, because he likely learned it with me in the 80's from our Lehman Brothers days (Brian still has all the scripts!) ...and as a reminder, the actual phrase/quote is;
Only Price AND Timing pays ... Case being, if you own Gold (as example) from 6 months ago at 950 - you might ULTIMATELY be correct on the price, but if you owned it for 6 months you have been in at best ' dead money'.
So Brian (and others) - get it right... Only Price and Timing pays :-)
@A_F
Subscribe to:
Post Comments (Atom)
Andy- good post, no offense taken at all. I think we view it the same- Price/time/timing/multiple timeframes are definitely most important for trading. I may simplify it by harping on price alone. As you know time is in the title of my book actually, "timeframes".. I bet you are right about the Lehman scripts, that is probably where I learned it, I learned a lot at LEH. Keep thinking outside the box and challenging conventional wisdom, it is how every successful (and happy) person I know has achieved success on their terms.
ReplyDeleteThanks guys good to hear the banter from a couple of pro's. Love your updates on Twitter/StockTwits.
ReplyDeleteMmadonna40
This is awesome; you said it in simple and most appropriate words. The phrase you used here is true and you have related it so well with real value of gold. I believe it gold is a good investment only when we know the time to keep it or to sell it.
ReplyDeleteHighest CD Rates