There are far too many threads about TOPs prediction. Let me counter it with this thread. 1. Learn to day trade !!! Practice very very hard. Practice as if you were going for Olympics competition. 2. Trade with trend. Must take all continuation and reversal signals without fail. Recognize the difference between counter trading trading and reversal pattern and don't do kamikazae trading aka counter trend trading. 3. Only enter when there is confirmation pattern. But don't wait till all the planets are in alignment before pulling the trigger 4. Don't listen to news. Don't listen to what people say. Just focus on your charts and do your own analysis. 5. Change your PREDICTING mindset. Tell yourself everyday is a great trading day. 6. Finally have a huge cup to fill the money falling from the sky. Let the profit run !!! _________________
If one is a day trader (as I am) trade with the trend .... of the day. Otherwise if you are trading with the longer trend ... why sell or buy to cover EOD?
Over Night Margin requirements ?? risk of huge gaps bla bla bla Day Trading upside, more control over your exposure.
If you are trading with the longer-term trend, then close-to-open gaps do not matter to you. Because just like those gaps, a longer-term drawdown over the course of a day or two is the same thing as a gap, just moves more slowly. As for overnight margin requirements? You should be following the overnight margin requirements for every day trade, and never over-lever.
Darn, you will spoil the fun. I was enjoying the ET trolls with their doom and gloom and losing their monies. Now, what are we going to do for entertainment? Guess we will have to rub the ET trolls faces on the ground when President Donald Trump is exonerated on the bogus, kangaroo court, Democrat House impeachment hoax the Democrats just conducted.
That is all well and good but again if you are daytrading then what does yesterday's or last week's trend got to do with anything. In the same way if one is swing trading a move lasting a few days the trend last year or decade ago doesn't matter.
Well. I had mixed feeling. On one hand, it was fun reading those ET trolls with their doom and gloom things. On the other hand, it was irritating to see those threads.