I've often thought (and I may have read it in a trading book somewhere), that the market is a mirror of your personality.
LOL... agreed... but I think this can be rescued. For sure the reason of why a person buys here, while the other person sells here, is unknowable and pointless. But, the technical idea behind why price moves is still I think knowable. Its because everyone has a different idea of what something is worth, and everyone wants to make money, and everyone thinks they are right, so they vote with their transactions. If everyone thought the same, price wouldn't budge. So price moves because most don't agree, by why they don't agree is of course pointless debate.
Those are the times I least enjoy trading...when there is too much agreement about the current value of an instrument.
Agreed. Its funny to read that so many traders (maybe they are in fact just investors) don't want a volatile market. I'm sure the expert traders are just killing it in these past few weeks. I of course understand how most people just want things to go up, but this isn't realistic. (I personally just want it to go instantly in the direction of my trade... be it long or short. )
I'm trying to figure out if this is a pun. Brooks has a section where he discusses hedging larger swing trades with options, as you probably know. I'm guessing that as a supporter, you've read some of his material.
As a follow up to my post yesterday, here is the same damn thing today, with practically the same setup using exactly the same "break above previous high that went really high but price came down again to this level" setup. Did I take this trade? No... but I am watching and making notes in real time and plotting trades. Would I have posted this if it didn't work out? Probably not... so huge bias here.. deal with it! Anyone else trade like this? Edit: I should add that the volume is incredibly low today, and especially now, so its very easy to get pushed around. But at the same time, I do think that after a while, when you can begin to figure out how they push you around, you can use it to your advantage. I'm of course just a rank amateur, but I think there is something to it.
One thing is certain, Marketsurfer could not make TA work him, everything else is debatable but his failure with TA is factual.