I've been trying to tell people on more than one thread for the past 6 months. This is a bear market. It looks to me as if I am the only one out of step, here. Anyone who is buying is on a hiding to nowhere, if they keep it up. The occasional successful trading spell will always happen, but the probabilities are down. I have been seeking early trading rises as an opportunity to sell into strength for ages and, believe me, I am not clever. I've just got a bee in my bonnet about the trend direction.
Rant over.
Split
I totally agree with your methodology my friend and it is a very low risk strategy, but there is still scope to scalp 10-20 points regardless of which direction the overall trend is in
what do you do if the market shoots up from yesterdays lows...what is your stop loss on all your shorts!!
the market hit a low of 3780 yesterday, but has consequently risen to 3850 intraday today?
were you stopped out of your shorts ..........
it is a good strategy that works, but only for you my friend
we all have different strategies and methods and if we keep our stop losses in place we will prosper regardless of which direction the market is headed as we will always live to trade another day
I went long last night on all Indices in a bear market and did tremendously(understatement) well ......this market is oversold and we will see a spike up, because it always happens when everybody says short,short ,short!!
just like the housing market when everybody said buy, buy, buy.........
please dont get me wrong my friend I appreciate your input on this thread and wish you every success in your trading
take care
