by the way you may now want to buy for a point or so... the market is rising as TICK is falling to -600
Thanks. Actually the market looks weaker than this morning. I have no signal so I am just gonna sit and stick with my losing plan.
2 more days... you never know you could reverse and end up net positive. It seems your form of trading may only work during low volatilty, range bound days. good luck
I's easier to take 2 points with the trend then 1 point against the trend. And on top of that it's less risky. But most people like complicated things more because they think good things have to be complicated. Conclusion: although trading with the trend should be easy, for most traders it's more difficult then trading against the trend. I went short this morning at 1192.50. The highest point we reached afterwards was 1192.75 and from then on i was constantly in profit. No need to stress, just relax, and let the trend do the job. At 1182 i took my profit because i expected a correction. At 1185.50 i went short again. The highest point we reached afterwards was 1185.50 and from then on i was constantly in profit. No need to stress, just relax, and let the trend do the job. I'm still short. Nervous or stressed? No, because i placed a stop at my entry. So the worst case scenario is a break even. I will never ever again fight the trend, that's something i promised myself years ago.
There is a reason why most people countertrend its not because its more easier or more profitable. Its because its hindsight & greed at its worst. Learn to predict, That is how money is made. That is an edge few people have, everybody talks about edge, when they obviously know prediction is the biggest edge. How is your prediction? Can you predict accurately? If not, Trading is just like gambling with or without money management.
You know what happens when you ASSUME right lol? I would not say most people are trend traders. Many long-term traders certainly try and follow a trend but if you are trading short-term or scalping you do not necessarily need a specific long trend to get in and out. For example, in my options journal I am selling credit spreads against the S&P monthly. I am not trading any trend at all. Traders trade what they know and feel comfortable with. I use minute by minute trends if you want to call it that when I scalp the E-mini but I would not call myself a trend trader. I think today you were trying to pick the bottom repeatedly. With so much bearish sentiment there were not too many good entries I think and a lot of whipsawed stock buyers. The TICKS were so negative all day. Everytime the TICKs jumped positive they were sent back down hard. Indicates random buying pressure continuosly overcome by the prevailing bears. If I was not so preoccupied with my option positions today I wish I would have been able to dive in at some point with the futures.