I don't care, I just follow the trend. I am trading to make money, not to guess. For guessing I go to a casino. While you were guessing how low he will go, he went up +15 points.
schweiz, I agree with you. I am just trying to make some money every day. That's it. All I can do is get on board whatever they market wants to do every day and try to make alot of money.
That is one of the "secrets" of trading is getting just consistent, when you find the signals you like best and you don't need many, get that losing percentage real low, then you can pile on size. What most day traders will believe is the getting in is most important, and after awhile, you can get in anywhere providing you can read charting well. Where you actually get in is matter of how much you risking based on back testing, but truly, if you do breakouts, you are expanding your risk and shortening you profit. Going up is way different than down trends as well, going up is more ragged cause more traders like to buy any market- so more fake moves, whereas many don't feel comfortable of first selling the market, but I always prefer selling than buying.