Keeping on fighting the trend?
I hope you get lucky today with your average down and break even.
went long SPY
- Thread starter noob_trad3r
- Start date
Keeping on fighting the trend?
I hope you get lucky today with your average down and break even.
GordonTheGekko
Guest
I've been long since Friday. Needless to say, I've been hosed. Some HF managers that I trust are also long.
Remember the Tuesday after the Friday downgrade? Chaos can go up too. We are due for a reversal IMO.
Remember the Tuesday after the Friday downgrade? Chaos can go up too. We are due for a reversal IMO.
Are you simply rateably adding to your position every xx spy points or are you using some technical analysis to help you determine where? FWIW I do agree with being positioned long in the market now, especially with the Aug low stop run out of the way and R2k, Naz leaders again showing relative strength vs Dow. But my opinion is longer-term (401k) than most
So far he nailed the bottom. You are losing against him.
Good job!
Quote from tradingjournals:
So far he nailed the bottom. You are losing against him.
What am I losing? He went long yesterday. He is averaging down to get out intact. Are you well?
When people take a position "with the trend" or because whatever indicator told them to, they are predicting that price will go in that direction.
I have never met a profitable trend follower who can QUANTIFY how to define a trend.
Sure it's easy to look at price now and say "oh yeah we're in a downtrend" but nothing says that as soon as you enter price won't turn against you.
Now I know you're trolling. MA crossovers aren't profitable in the long run (although they tend to work when price's waves happen to coincide with the frequency of the MAs). Do some research rather than listening to your "gurus" who try to make things easy by telling you nonsense like MA crossovers have a use in trading.
The amount you lose in chop will eventually make up for the amount you gain in trends while using MA crossover systems.
To each his own. Some people made a lot of money on weighted ETFs in 2008 and 2009.
1a2,
maybe this helps
using daily
when the 50 crosses the 200 down, look to see if 50 acts as resistance after subsequent touches after the cross, if so you got a strong downtend
the cross itself is a warning, not a signal, the signal is how price acts after the cross
reverse for bullish scenarios
its a simple way to define strong trends
hope it helps
for targets use channels, and target return lines
FoN
maybe this helps
using daily
when the 50 crosses the 200 down, look to see if 50 acts as resistance after subsequent touches after the cross, if so you got a strong downtend
the cross itself is a warning, not a signal, the signal is how price acts after the cross
reverse for bullish scenarios
its a simple way to define strong trends
hope it helps
for targets use channels, and target return lines
FoN
