STUPID PEOPLE UNITE
WE'RE THE ONLY ONES WHO KNOW HOW THE MARKETS WORK
WE'RE THE ONLY ONES WHO KNOW HOW THE MARKETS WORK
Reiterate : buy the dip
- Thread starter stock_trad3r
- Start date
Thank God, still some BEARZ out here ! What to do without some convinced BEARZ ???
Me too, I feel like we are in the huge minority here though.
I see a market that went down and up today and I was able to capitalize on both moves.
From a prediction standpoint the odds are the market will go down from here. As long as it stays below a 61% retracement level of the decline the odds are the dow will hit a minimum of 12750. Now if the market closes above that 61% retracement level the odds change in favor of the market going back up to the highs.
Huh...what? (rubs eyes sleepily)
You see, you do predict after all. Even today with the market going up and down all over the place, you saw the market act in a certain way and on the basis of that you made a prediction that it would go up or down and traded accordingly.
I can't see why so many people on ET have to repeat the "I trade what I see, not what I predict" mantra over and over again. We all predict but we focus on different time frames.
I think you are missing the point. When you trade what you see you are reacting to what the market is doing, not predicting where the market will go.
Edit: Right now the market isn't doing anything because it is closed. All you can do with a closed market is predict. An open market does not require prediction.