Thats right. even a non experience told me not to pick a top and keep going long, I guess all trading gurus real trader or not are advising the same things so people nowaday are so use to buying dip.ha, this is actually kind of true
I've been a dip buyer for about a year now. Doing rather well, albeit at small stakes (post all my trades LIVE in the ESjournal)
But i've realised, like you, that almost everyone else is playing the same game haha. Even when we get the 'once per month' very red day, there's zero fear. We just wait for the V rally/snap back move
A few year back, when we had these monster upmoves that just go and go, it seems everyone was always trying to fade the move and short the tops (and would get burnt) and now it's like nobody tries that anymore.
They're too smart now and know better than to fight the fed
We're evolving!
Everyone is so smart now no one tries to pick a top
- Thread starter TripleJs
- Start date
Correct, make plans according to the trend with strong technical interpretations. Forex is not easy, very volatile need to row your trades with trend.
maybe short on MA crossover? I am moving my time frame as picking the tops does NOT work especially on a nice broad rallywe had yesterday. I am also not fully invested and have cash waiting on the sidelines as with millions of people. https://www.marketwatch.com/story/i...-this-is-why-that-idea-is-hogwash-11609795905
We all are in Alice the wonder land. Where TESLA is valued more than all profitable car companies combined, dodge coin market cap was like 100 billion and etc. Just trade what you see and run when you need.
The only prediction is that we all will pay a very dear price for this madness. When? who knows. In the long run we all dead.
The only prediction is that we all will pay a very dear price for this madness. When? who knows. In the long run we all dead.
Like I said before on another thread, chicken littles have lost every single time they predicted a market crash. By now, stockmarket 50 and chicken littles 0. Good for entertainment value though. The chicken littles will be right when the stockmarket does in fact crash. 99.9% of the time, they will be on the wrong side of the trend because they do not know any better.
Yeah, that is right. Teach the stockmarket a lesson it will not forget. In the meantime, trade opportunities abound and one has to only take it. These people waiting would be the very first ones to bailout when they take positions thinking it is the bottom and the stockmarket keeps falling. My monies are on the hedge funds to take the monies of these legions of traders, in the mold of the Reddit traders who believe in sayings like, "to the moon." Be sure to have enough power and fuel to reach the moon. Otherwise, the re-entry back to earth is scorching and will burn you up!
Long term I been selling certain highs in Index futures and always hedged for past 4-5 years. Long stocks are hedged with futures when topping formations happen. When Stops hit on losing futures positions, hedge as already has kicked in. Been trading this way over 25 years. Last year was awesome. System eventually nails highs/lows, but only have 5-15% winning trades a year, and most losses net break even.
Only trend trades is when majority of traders say trend has changed, so add ons are deep retracements.
It certainly not best way to trade, very very boring, no excitement until home run trades pile up. But it beats spending several years getting good at scalping, that is what I wished didn't spend all those years to do.
When you add up all the commissions of day trading/scalping futures, it is huge compared to very long term trading.
Only trend trades is when majority of traders say trend has changed, so add ons are deep retracements.
It certainly not best way to trade, very very boring, no excitement until home run trades pile up. But it beats spending several years getting good at scalping, that is what I wished didn't spend all those years to do.
When you add up all the commissions of day trading/scalping futures, it is huge compared to very long term trading.
The only prediction is that we all will pay a very dear price for this madness. When? who knows. In the long run we all dead.
I think that's called "winning". The theoretical expectancy for the sum of all your wins and losses adds up to zero - but if you can manage to stave the latter off long enough, you get to die with all the chips.
Be in 100-percent in stocks unhedged now especially in momentum stocks is just plain stupid. Day Traders may get away with it but Swing Traders are a different story.
You can just buy the dip proportionately to your account size. Eventually, you can even get some fixed income. Right now as they say Bitcoin is better than bonds.
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