Poll: Is the top in?

[Lights]

depends on strategy. understanding a basic multiday trend can amplify daytrading profitablility significantly (ie 6 figure day) by allowing one to size up. merely reacting to market price action is profitable too but there is a ceiling. however, when there is no trend, trading off current day price action with little or no bias as you say is the only way.

Quote from Cheese:

A requirement of daytrading is neutral mindset. Outside the day ahead I don't give a horsesh*t whether the weekly, monthly or long-term trend is up or down.

Is it the top? Is it the bottom? All this trending mindf**k takes the trader away from the cornucopia each day offers in index futures.

It will always pay just to play the day and make hay.

 

[murray t turtle]

Quote from EqtTrdr:

no because they will just gap the futures up again tomorrow for no apparent reason again....


or


Just buy the dip if we open lower like every other time in the last 3 years and collect free money

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Thats a shame they dont key all the tek stocks off INTC, isnt it;
you may notice they gap up lots of stuff in bull markets.


And with logical reasons ;
gap many down frequently in bear markets/trends.

 

[buzzy2]

well, it wasn't the top, the spx 1273 area was retested 12/14-16 but at least it was still a good short entry.

if it's any consolation the NQ did top on 12/6

congrat$$$ to the 9 bears who played $hort, hope they kept their positions through this month bullshit market, or at least reentered at a slightly better price mid december.

 

[balda]

How did you know?

Great timing for YM as well.
Congrats.

 

[buzzy2]

thanks balda.

if I tell you how I knew I'd have to kill you. Sorry.

 

[kingcobra]

the bull is on lifesupport.
the bear is waiting nearby to takeover the economy.