The Fed did it, calm returning to the market

Quote from alex.samant:

and what? are you going to play an "maybe rally" scenario ???

Does it really pay off!? I don't really think so.

Just sit on your ass until there is a topping out intraday and that's it. go short.

geez
More...

the emotion in your post confirms what i said

yes I think we're going lower

but i dont think we are right now

as of yet, we have not *closed* below the may 2006 high, that is consistent with bear phase one of the last bear market

bears are incredibly vicious, they kill amature shorts too
 
Quote from alex.samant:

and what? are you going to play an "maybe rally" scenario ???

Does it really pay off!? I don't really think so.

Just sit on your ass until there is a topping out intraday and that's it. go short.

geez
More...

Could not agree more. Go with the major trend, esp today.
 
donna: i only trade fx futs and scaling in is my way of operating. i have left feelings behind some time ago. i was just telling what i would do here. i have been watching for a meltdown as a mean of entertaining myself :)

ok, maybe i would wait for a swing low to form on the dow and then add at a break of that low, south, intraday.

but, in general, talking about crowd psychology, i bet most ppl would be selling at such a low point....

most of us think: "IS IT CHEAP, IS IT EXPENSIVE" this and that.

but they are all thinking "IT'S GOING DOOOOWN!"

there is a difference. since there are two groups that think in a different way, the ones that do cross thinking are winning the game.
 
plus you got mechanical systems that operate big money that don't even think. they "see" the downtrend and sell into it. that's it. they act.
 
the last downtrend started with the first day of 2008. that was a trigger and that trigger activated even the most shy-to-cover mechanical systems.

from that point the dow's been plunging. it's clear why and it will be plunging still because positions do not fully unwind. it takes time and those who have to cover need rallies to get out with smaller losses.

for the last half a year EXACTLY that has been happening. big smarts taking profits and exiting the market.

then the dollar went close to 1.5 ag. the euro and close to 2.05 against the pound and profits were a little hard to take.

since the pund dropped under 2, the uk funds took profits first.

now, with the eurusd coming close to 1.4 european funds will start taking profits.

i wonder what china is up to with their yuan.
 
Quote from alex.samant:

donna: i only trade fx futs and scaling in is my way of operating. i have left feelings behind some time ago. i was just telling what i would do here. i have been watching for a meltdown as a mean of entertaining myself :)
More...

Ok, Cool. The emotional part is not easy to conquer. I think it's a matter of control rather than conquer. Anyways, focus surely changes as you move to put on a trade. I envy you on the sidelines.
 
well, it's not hard either.

when you have a clear plan that you have to focus on following PLUS the initial risk is accepted and limited to a small amount, the only thing you need in addition is confidence. and that comes with hundres of trades.
 
Quote from donnap:

If you were short, you'd have money on the line and that would change everything.
More...

short the USD and call it a day. that was one of the best trades of the past year
 
You must log in or register to reply here.
Back
Top