You sound more like a short term trader. What time frame do you trade? For me I don't ever short the market unless it's due for a reversal on the bigger charts, like the weekly. When you try to short these little 5 minute dips, you eventually get burned. Although I will admit it can be fast and adventurous to trade the 1 minute charts if you're quick.
"Most "traders" here don't go short", For Real?
- Thread starter easymon1
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You sound more like a short term trader. What time frame do you trade? For me I don't ever short the market unless it's due for a reversal on the bigger charts, like the weekly. When you try to short these little 5 minute dips, you eventually get burned. Although I will admit it can be fast and adventurous to trade the 1 minute charts if you're quick.
True, because if you have a winning system, your optional move is to trade often, and day trading is the right way to accomplish that goal.
I use the 15 min chart mostly.
But here is the bonus: If the trend is strong I can stick with it for a very, VERY long time, and collect spectacular profits!
For instance right now I am short GBP/AUD (at 1.8250, so 250 pip profit already), and yet it seems that I am betting against the uptrend.
In an out. Trade what is happening right now, in the here and now.
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agree..fully agree. This one will be almost too fast to participate in. Then, the following Fed speak and buys will be instant. Crude builds will simply and magically vanish as we move toward Thanksgiving.
I think there is a reason for October being the danger month. Christmas follows quickly and offers a great buy the dip setup. Santa Clause rally is deeply imbedded into wallstreet lore. Almost impossible for October down moves to get followed up with real selling. And right now I really dont trust reporting. I think this Christmas will show "V Recovery intact" jawboning regardless of how terrible it really is.
It didn't happen two years ago until X-Mas was over. But this time it will be different if Biden is elected. He just admitted tonight that he is going to be raising taxes if he is elected. Point-blank, no pulling the punches...I am surprised the futures didn't take a dip on that reaffirmation news.
I never short stocks. I trade puts if necessary but I never short. Witnessed too many low floaters go nuts. Witnessed a friend go out of biz because of a squeeze. Futures, currencies different story.
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IF only life were that simple.
Investor James jim Rogers has been known to short/what do you expect with his birthday in late OCT?? ALMOST never does any system make more short than long.[Edit, actually its strange the way so may long systems do better long than short]
Easy to make an error; the elite trader said feb/MAR, not just Feb.