Quote from volente_00:
Why go long now ?
My short position is based on a trendline that spx touched.
I did not say I would go either long or short from here, but if someone held a gun against my head and I had to choose, I would definitely go long.
Good luck.
Quote from sellindexvol66:
Since after hours this has become a market bias mini discussion I will add my two cents.
LF has an excellent point ..I understand the market drops faster for scalpers than it up crashes even in the run from 666; but a viable strategy has been to buy dips since then.
Needless to say I have earned more than most and that's what I have done. I think its intellectually dishonest and plain wrong to tell LF he has no point . He is not saying to buy here is my understanding... simply buy dips.
I remember reading your very nice and inspiration P&L posts. If I'm not completely mistaken, you're not a directional trader, no?
Regarding the speed of market drops, is that not some what of a myth or at least an exaggeration anyway?
I think some more context is needed to further look into that, i.e., timeframe, current state of the market, etc. When I get my database back up and running, I would be interested in doing a study on it since I have an algorithm that actually measures swing size and duration.
However, my own qualitative observations from watching intraday price action for a few years is that the moves to the up side can be just as and even more violent than the ones to the downside, both in terms of speed and magnitude.
Regards.
Quote from mastacoli71:
Peace and I wish all success in trading.
Same to you.
And thank you for the charts.
What would you see if you removed all diagonal trendlines and drew in horizontal lines instead?
Would that still make the case for a short or would that make a different picture?
Regards.
