Who got back in today?! Who even cares and why does it matter? The markets are controlled by algorithms that are programed to out-think you. Here.... 2X+5=17 X=6 Know what that is? Linear thinking. One who thinks linearly should NEVER play futures, options, or stocks. The markets don't work that way. Be honest with yourself ON and ask yourself this question... "Do I think linearly?" Be honest. You do. Markets are about psychology more than anything else my friend. Understanding human nature. It can't be taught. It's where you've been. -vz
My question about "who got out today" was a direct question. Who the hell was getting out of their portfolios on nothing news? Why did the indices tank? Someone had to be getting out of something. Well, it wasn't the individual 401K holder. It was, as you said, the algos. So algos are all about psychology then. Hrmm. I thought algos were automated strategies and the like. Where is the room for psychology in an algo?
Linear thinking once again. Here, I'll help. Algo's are written by human beings. They're only as good as the humans writing them. Duh. Holy christ in a sidecar... If you can't figure that part out, well, I don't know what to tell you. Whatever.
Do you know what the best traders use? Charts. Candles. B1 even told you that. Ya know what creates those candlesticks? Either humans or algos pushing a button to buy or sell. And why do humans do what they do? And why do they do it when they do? There's your holy grail. And yes, it can be, and MUST be updated daily or even hourly. Linear thinking is a sure path to failure. Figure that out, make it happen in what you do.... and then send me a thank you note. Give the check to charity. See ya...... I'll stay out of the mud.
I’n a firm believer that most people are idiots. To pay someone even only $4 to do your own thinking and trust his calls with your money is a fools errand. How’s your trading going btw?
Flat and waiting for 4550 now for a potential reversal. If not - Outside Day with new weekly lows possible...