There is a secret website that actually predicted the market bottom today. I saw it was right, but was stupid and still shorted against the market after it made a bottom.
You could also look at daily candlestick charts. Look for wicks to form at bottoms and tops. If you are watching the markets daily, you can get your own sense of market turns better than any technical study you can find.
Do you like to ride roller coasters? What is more fun, the trips up and down, or the tops and bottoms? Enjoy the trips.
Wow...all REALLY good tips guys. Thanks. I'm new to this so I want to garner all the info I can get to do it right. I know there will be ups and downs and that I'll make some mistakes along the way, but I'm really eager to learn. Thanks again.
Some very good points. Like some of you have said, if it was that easy, then everyone would be doing it and making money, right? So it always looks easy reviewing charts and saying, oh, next time i will buy here, but when the time comes, its another story. It always seems no two times are the same, somehow, the market always gives something a little different to cause some confusion and cloud our minds. What worked last time, may not work this time and vice versa. Im really starting to believe, and this is more what i have learned with my trading, as long as i have a clear mind, and dont marry any one direction, and can just flow with the market, i tend to trade better, and that means, if i have to wait and extra 15 or 30 mins for that candle to close, then i wait, that is when i think i am at my best. But the more time you put in, i think you then see just about everything possible and you better learn and know how to deal with certain situations. have a clear mind, and i think that goes a long ways.