Countertrend Rallies

KGTrader4 said:
I have a serious illness. It’s a bitch

I’m just trying to guard against it.
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Counterfeit Rallies.....Buying the Dip....Support/Resistance Levels....yadda, yadda, etc etc,
Everything works and sounds so logical and intelligent and magical in hindsight and theory....until it doesn't work.

That's like walking into a casino....and asking 20 random people how to gamble...teach me, help me, guide me, direct me. Please.
While you should be talking to and observing the rare .41% of people who win at casinos relatively consistently, instead.

Some traders continue to speculatively, purely, gamble on the market....and yet wonder...,.,why they are losing? And why God hates them. Why is God not showering them with money and profits and wins?
You have to carve out the scenario/trade and playing field to your advantage, wisdom, expectations, observations and knowledge.
 
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KGTrader4 said:
I'm still around, haven't given up on the idea of learning to trade. Just haven't been dong much lately, except sit and think and read. Not trade. One of the things i've been thinking about lately.....

We will, i guess have at least a couple of rip your face off rallies before this bear market is over. But they will be countertrend ralleis that wont last. And they will suck in a lot of people.
I have a tough time sitting in 75% cash when this is happening. How do you guys avoid getting sucked in. What do you look for. (i realize everyone has a different "system" and some have no system)
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Stick with the major trend. If you look at any stockchart, you will easily see that a downtrending stock will have rallies to the upside which are shorter in duration and percentage gains small compared to the major trends when the next leg moves lower. That is where the big monies are made in the larger moves and larger percentage gains. Stick with the percentages like the casinos. Odds will favor your trades. Trends persist longer than most retail traders think.
 
If you do countertrend trading a thousand times,
there will be one time when you will be successful.

But then, you probably have to give up trading as you have
to top up your account tens of times.
 
smallfil said:
Stick with the major trend. If you look at any stockchart, you will easily see that a downtrending stock will have rallies to the upside which are shorter in duration and percentage gains small compared to the major trends when the next leg moves lower. That is where the big monies are made in the larger moves and larger percentage gains. Stick with the percentages like the casinos. Odds will favor your trades. Trends persist longer than most retail traders think.
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This is for the most part what I’m planning, and working hard mentally to do. Trying not to be too smart for my own good
 
MacBookProHo said:
Counterfeit Rallies.....Buying the Dip....Support/Resistance Levels....yadda, yadda, etc etc,
Everything works and sounds so logical and intelligent and magical in hindsight and theory....until it doesn't work.

That's like walking into a casino....and asking 20 random people how to gamble...teach me, help me, guide me, direct me. Please.
While you should be talking to and observing the rare .41% of people who win at casinos relatively consistently, instead.

Some traders continue to speculatively, purely, gamble on the market....and yet wonder...,.,why they are losing? And why God hates them. Why is God not showering them with money and profits and wins?
You have to carve out the scenario/trade and playing field to your advantage, wisdom, expectations, observations and knowledge.
More...
%%
Good points, but really '' win @ casinos relatively consistently??''
THAT's almost like buying value or buyin' in this bear market. Even Carl Ichan made$ 600 million on sale of Fontainblue Casino, more than 4x what he paid; but lost $350 million on Trump T Mahal Casino in Atlantic City. But good thing about that loss \union lost more.
Carl Ichan is an unusual supertrader; when he tends to announce a buy , usually an excellant buy + plenty of trend profits left.
I've made some on SPLV/ but really would rather read about super traders + mostly trade with the trend. NOT long SPLV.......
 
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