Regardless how much BS this strategy is (BTFD), this is the only strategy that work - KISS From time to time (every 3-4 years), you will have a bear market, but if you know how to hedge, you will be ok. Price Action ?? TA ?? Indicator ?? Secret Source ?? Call Top or bottom ? Reverse ? Wave ?? Just ask yourself why you never make money :eek:
I'm no Big Swinging Dick, but I used Elliot Wave and some indicators today. Am I doing something wrong?
Just close 70% of my long, it is a good ride up. Leave the remaining 30% long with the stop loss at breakeven. Good luck for those still holding long in the market.
in the old days (like back in 2012) buying the dip meant after a 5 to 10% correction now it just means 5 to 10 points down
I have noticed that the last 15-20 pullbacks have only lasted a day or 2, nothing more, and after each pullback within 1-3 days the markets were making fresh new highs again.....now if it were the other way around where the markets were making new lows, forget it, there would be massive amounts of meetings between BUBBLE ben bernanke and friends to stop the market from falling, but when its rising day after day, month after month there is no need to intervene, just like the housing bubble...... when housing prices were jumping 10-20% a year, they didn't have a worry in the world, they let it keep going and going and going and going, but after the bubble burst and housing prices started falling the first thing they did was try to prop it up by injecting trillions of dollars and introducing first time house buyers with huge cash rewards.... that's why this market isn't real, this is nothing but hot air underneath everything that's going on today, from equities, to housing prices to commodities. It will continue as long as it can and then one day when you least expect it the bottom will fall out and the next crisis will begin.