5120 aug5'24 low would hold today, trying to get there. next stop 4965 apr'24 low, was that japanese interest rate decision or the iran missiles? forgot
In this market, I would say it's 20% skill and 80% psychology (ie. trying not to emotionally implode). The charts might lie, but panic never does. If you don’t have the mental spine for it, you’ll likely turn a paper cut into a full-blown amputation. But go figure.
That's silly. A long-only market that has dropped 1000 points in 6 weeks. When I started trading the eMINi it hadn't even broken the 1000 point marker. But I knew which way it was easier to trade - with the trend of course. Why make it harder on yourself?
I'm not making it more difficult. I am just showing that longs are available nearly every day in long-only market. The US market has a built in long bias and there nearly always be buyers hunting bargains.
Same could be said (not that long-only stuff) that sellers can be found in uptrends. Means zippo. Waiting to grab a bounce while price is collapsing is, most definitely, the harder way to trade just as waiting for a pop to short while price is rocketing higher. Long bias is longer term, not minute by minute.