[steve46]

No need to apologize James.

"Broke the dollar" means that the institutional money market fund (that I referred to) did not maintain sufficient funds to respond to demands for redemption.

[steve46]

Originally Posted by OAC »

We may be weak, but we are not dumb.
Steve 46, go back to trading.

I didn't invent these euphemisms, but I can tell you that time after time, they are proved correct. As an example I often fade signals at the daily pivot, and I do so because time after time, retail traders prove to be "weak hands" that get flushed out of positions easily. Even when retail traders use stops, they are positioned so obviously that it is easy for professionals to trigger them. For retail traders, I suggest that instead of taking it personally, they try to determine how professionals approach the markets, and try to trade more like they do....

Good luck to you

[OAC]

Steve46,
No offense here. You may well have the right ideas here, but did you ever take Economics 101 in college, because you have a funny way of explaining things.

[steve46]

I understand entirely. I was trained in a specific way. Its possible that we don't have enough in common to communicate. Fortunately there are plenty of other points of view for you to evaluate.

By the way, I should clear something up....I don't think of retail traders as inherently "dumb"...Clearly however, retail traders are prone to making dumb decisions when it comes to trading. I think the same is true of the professionals who allowed a money market fund, a short term fund at that, to own commercial paper from Lehman, that was really incredibly dumb (and irresponsible)...Clearly retail traders aren't the only people making dumb decisions these days.

Good luck