This guy does not trade. He is just an ET troll without a clue and a vendor, pretending to be a retail trader. Only out to take strategies from others to sell as his own. He should come out as a vendor, pay Baron his fees then, he would be more credible. This same guy has accused others of being fake traders, not trading the stockmarket to bait them into sharing their trading strategies. Do not fall for his BS.
Something is wrong with this downdraft.
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This guy does not trade. He is just an ET troll without a clue and a vendor, pretending to be a retail trader. Only out to take strategies from others to sell as his own. He should come out as a vendor, pay Baron his fees then, he would be more credible. This same guy has accused others of being fake traders, not trading the stockmarket to bait them into sharing their trading strategies. Do not fall for his BS.
Whether this downdraft is different or not, it can still take some time to develop into a bigger pullback. It's not like you got some super great bullish action today either. We basically did a standard bounce off of NQ relative lows. At least we held that low and closed above, so that's something, but far from the move we need to decrease the probability of further down later.
Also, it's elite trader, not elite investor. You can think the market is super bearish as a trader and still make money going long that day, because that's the point of being a trader, identify a temporary edge, imbalance and/or trapped traders in the market and take advantage of them.
Sure it's typically more profitable and easier to be trading with the macro trend, but none the less there's almost always trapped traders at some point in both directions no matter how bullish or bearish we are.
Also, it's elite trader, not elite investor. You can think the market is super bearish as a trader and still make money going long that day, because that's the point of being a trader, identify a temporary edge, imbalance and/or trapped traders in the market and take advantage of them.
Sure it's typically more profitable and easier to be trading with the macro trend, but none the less there's almost always trapped traders at some point in both directions no matter how bullish or bearish we are.
I mean you can call it luck, but you guys poke fun at him for being a troll and not a trader. Yet you're talking the market's all up and look where we are now... Maybe you guys just focus on intra-day trading, if so fair enough, but you clearly don't chart longer term time frames or understand them very well, because if you did you wouldn't of been so condescending to others calling for lower, when there were clear technical signs that it was a decent probability at worst.
Fair is fair you guys did come at him pretty hard and the facts are the market only went up above the high max 130 NQ points from the last post on here and has fallen almost 3000 points from there. I mean seriously think about that, some of you guys almost called the top perfectly, only not in a good way.
We are in a downtrend medium term. That is what it says. Not short term, not long term.
Trying to guess and predict is a way to have random results. There are plenty of short term swing, and day trade opportunities right now in front of you. Trade them instead of trying to make ones up.
Trying to guess and predict is a way to have random results. There are plenty of short term swing, and day trade opportunities right now in front of you. Trade them instead of trying to make ones up.
That's fine and there have been some good long setups, as well as some times when the market flipped bullish in this overall down draft, but generally long setups have lacked integrity and there's no denying when you're in such a clear downtrend shorting becomes the path of least resistance.
Not sure if you were directing comment to me, others or everyone, but there was no prediction. Daily/Weekly were in a clear potential sell setup. Once we candle closed below the benchmark level that activated the setup and it went down in very short order.
I just don't understand what you're saying. You're telling us something that already happened (the downtrend). Yet you're also saying don't predict or guess. So, either you're wasting your time talking about things that already happened or you believe that past data can give probability to future moves, which means that it has nothing to do with guessing or predicting.
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Good bear call on early JAN;
i noticed the 200day [long term measure]moving average bear\SPY\QQQ + such later this year\LOL.
Stock traders Almanac{2017 0r 2018} noted most 3rd FRi weeks in MAR are up/ DOW, SPY, NasdaQQQ. Spelling checker not used on this one] i sold all my longs today except one position ; i have too much non market stuff to do FRI
SPXS,SDS,SPXU,SH making higher lows+ higher closes last 3 months. NOT a prediction.