I decided early on to use something simple and then focus on limiting losses and letting winners run. I think that is most important.
Don’t you guys expect some bounce, or festering time? It has gone down in a straight line, vix touched almost 30 and is already down somewhat. And the tariff thing is not something unexpected - unlike the pandemic - imho. All biased opinion, ofcourse perhaps to 5865 (SPX) by 21 march
Monthly trendline right now is in the 4900 area and rising. So, there is a potential perhaps to drop more and bounce and continue the upward trend. On the other hand, trendlines are ripe to be breached. Right now the daily and weekly trends are down, I am looking for the right place to place longer term longs. Intraday has provided tremendous buy signals each day of this down turn. It all depends on your horizon.
Have a look back at the SP500 chart in 2022 when market pulled back for most of the year with large short squeezes to understand what is possible.
I did, -12.x % seems to be a magic number there having said that, looking at past declines is good for perspective, but not always an angel. If you took 2020 as a proxy for 2022, or 2018 as a proxy for 2020 one would have lost his or her skirt unfortunately
I trade price, not my hopes and wishes. At least one ES close above the previous day's open before I even consider a long.
Everyone trades a future price expectation, by definition (directional trading speaking). Please stop with the regurgitated nonsense found in thousands and thousands of old trading books.