I couldn't agree with you more about that. No one knows what the market will do in the next 30 minutes, either. But traders have to develop a belief system about such unknowables, based on patterns and measures and probabilities. Our belief systems are not the same as reality -- indeed they are a gross oversimplification of reality -- but they're all we have, and without them we could not trade. I don't know whether or not we're in a multi-year secular bear market, but my belief system suggests that we are and I must trade on that assumption. Your belief system is undoubtedly different. In fact, without a diversity of belief systems, we could not trade. It is the diversity that creates the market.
had my stop at 1483... added more before I went to bed at 1482 had orders to get me out from 1475 to 1470. great freakn trade... just more heat than usual. now flat
I hope so lol, I was short at 93.70 on QM the day before you posted about going short oil so hopefully we saw the same thing.... first target for me is 20 day EMA at 91.90...
watch the 1464 area if we get a new low... if you see immediate reversal good place to cover shorts and enter a low risk long.. great place to wait for confirmation to get an entry to ride up to at least 1485