Go on. Eventually you will have only conversations with Sam. Do you enjoy them?
I disagree. There are many objective people around…
> when there is conclusive evidence for its existence which we wont have unless the position is exited. Until then…As EU says, the highs and lows of the day for stocks do not even officially exist…
FYI for other newbies who have never traded: it may not matter what the
"highs and lows" intraday are. You can be forced to close an open position (from a margin call) based on the daily close. An addition (just browse IB’s or any other broker’s site) you may also be forced to liquidate a position based on intraday pricing (highs and lows). Of course CTAs and hedgefunds also must also abide by these rules even if Pal thinks C2 vendors need not. History is full of bankruptcies forced on very wealthy people with huge open positions.
These guys went broke with open positions for example:
http://en.wikipedia.org/wiki/Long-Term_Capital_Management
