Finally a buyable pullback.

Discussion in 'Trading' started by failed_trad3r, Mar 6, 2012.

  1. #51     Mar 13, 2012
  2. Tsing Tao

    Tsing Tao

    That jackass is still out there calling for selling, eh? I put him on ignore long ago. What a tool he is.
     
    #52     Mar 13, 2012
  3. Masterm the herd makes your trades work, and given your journal failure, you need to quit until you've done some analysis on what works.
     
    #53     Mar 13, 2012
  4. It just shows how clueless he is. Like you can't code things and see what works, which, none of his "technical analysis" works.

    What an idiot.
     
    #54     Mar 13, 2012
  5. The whole idea of 'buying pullbacks' in a bull market is flawed. Waiting for a pullback means you are currently flat. When is it correct to be flat in a bull market?

    i) when it's so seriously overextended that's it's virtually a trading short
    ii) when the bull market is over

    The vast majority of times traders are flat, waiting for a pullback, are NOT one of these two occasions. Traders wait for pullbacks for one reason - because they have psychological aversion to buying at or near new highs. Yet the nature of a bull market is that it will make many, many new highs before it comes to an end. Only one of those highs is the ultimate high, and only a few of them are medium-term highs that are worth selling. The vast majority should be BOUGHT not sold, not stayed flat at.

    What normally happens when you wait for a buyable pullback is not that one occurs, but that none takes place, or a smaller one than you expected, and then the market goes even higher without you. By definition, a bull market is more likely to go higher than lower, and rallies tend to be bigger than pullbacks. The odds are usually all wrong to make it worth waiting for a 'buyable pullback'.
     
    #55     Mar 13, 2012
  6. sheesh...I am beginning to think that a buyable pullback will be a signal for a significant turn!

    ES
     
    #56     Mar 13, 2012


  7. No kidding.

    Pros don't wait for pullbacks.

    Retail waits for pullbacks.

    You must trade like a pro.
     
    #57     Mar 14, 2012

  8. Buying on pullbacks is not the same as waiting for pullbacks.

    Pros buy on pullbacks just like retail.
     
    #58     Mar 14, 2012
  9. MKTrader

    MKTrader

    Again, there was no sell signal. Bailing now at B/E I suppose?
     
    #59     Apr 10, 2012