↑↓TriXx↓↑
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This is not an insult to anyone...I just want to highlight something that I think is important to everyone...so gonna no spit the titty out...
Did anyone notice that the people who were trying to sell on Thursday afternoon and all day on Friday as the markets rallied were the same people who were now trying to BUY today as the market dropped :?:
I know people don't like being wrong... or like to admit it...I get that, thats fine and not a problem, I'm not having a go at anyone about this.
I'm trying to make a point that this is typical self taught retail trader behavior or better put...crowed hysteria.
Its not my statistic that around 85-90% fail at trading, its a statistic that's continually pushed around all over the place on many sources.
Traders...more so home traders tend to have the tunnel vision mentality when it comes to trading....they see a large move up and instantly think...it can't go any higher, so I need to short this, the rest just see everyone else doing the same thing and well...they copy them.
So why can't the market go any higher after a large move ? What hard and fixed rule or commandment ever said that?
Markets can and will go higher...markets can and will go lower....there is no such thing as an over sold or over bought market when it comes to indicators or levels... if the money flow is coming in then markets will go higher until the supply drys up....markets will go lower until the demand drys up.
Guessing that its went to far is a fruitless exercise... have any important levels been broken to suggest market is turning ? If not...is that not telling you something...if so...then why fight it...why fight the market when NO important levels have been taken out ?
Anyway...just my 2 cent, its not aimed at anyone particular...just an observation of the overall picture.
Did anyone notice that the people who were trying to sell on Thursday afternoon and all day on Friday as the markets rallied were the same people who were now trying to BUY today as the market dropped :?:
I know people don't like being wrong... or like to admit it...I get that, thats fine and not a problem, I'm not having a go at anyone about this.
I'm trying to make a point that this is typical self taught retail trader behavior or better put...crowed hysteria.
Its not my statistic that around 85-90% fail at trading, its a statistic that's continually pushed around all over the place on many sources.
Traders...more so home traders tend to have the tunnel vision mentality when it comes to trading....they see a large move up and instantly think...it can't go any higher, so I need to short this, the rest just see everyone else doing the same thing and well...they copy them.
So why can't the market go any higher after a large move ? What hard and fixed rule or commandment ever said that?
Markets can and will go higher...markets can and will go lower....there is no such thing as an over sold or over bought market when it comes to indicators or levels... if the money flow is coming in then markets will go higher until the supply drys up....markets will go lower until the demand drys up.
Guessing that its went to far is a fruitless exercise... have any important levels been broken to suggest market is turning ? If not...is that not telling you something...if so...then why fight it...why fight the market when NO important levels have been taken out ?
Anyway...just my 2 cent, its not aimed at anyone particular...just an observation of the overall picture.
P
postman
Short Dow 368
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postman
Dont think we've hit the days low yet.
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postman
Its just a gut feel.
Probably best to ignore that sort of thing.
Probably best to ignore that sort of thing.
P
postman
I have to say after holding for 30 minutes and not being in profit I have my concerns, however I do tend to enter too early, and it didnt go 30 points against me immediately so thats something.
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postman
↑↓TriXx↓↑
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Its just a gut feel.
Probably best to ignore that sort of thing.
Indigestion:?:
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postman
↑↓TriXx↓↑;2427396 said:
Could be.
Maybe something I read disagreed with me.
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postman
I'm getting ready to pull the plug on this.
Just saying that makes me think I should have done it already.
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postman
If the dow doesnt go down in the next 30 minutes, I'm never selling it again this year.
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postman
Well I'm just about to take a second position around 417 so I might need a big pot.
↑↓TriXx↓↑
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dude!!!
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postman
Taken 409.
nitrader
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I am just learning - but what is that decision based upon?
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postman
Ok I need to see 390 at 7pm.
P
