no,absolutely. trading is an intelligent game. the general public lost, not because they can not follow the trend, they cannot buy new high or sell the bottom, actually they are the best in doing that: buy new high and sell new low. why they lost? they donot know the game is an intelligent game, they follow others' tips such as "buy new high, sell bottom" or "buy dip,sell rally" or "trade what you see".....in expectation of quick bucks since they donot know when to use those tips or stragetgies or under what situations and what the statistic egdes are, how much risk they should take .... even the best weapon you gave them, they can not slaughter the enemy, they backfired and killed themseves! I saw lots of public are investing or trading naked, how can they not lose? I pick bottom or did lots of counter-trend, but I did not get hurt, last week I picked the exact bottom of YM at 11463 with 100points stop loss and Nasdaq 100 at 2187 with30 points stop loss, I am not naked trader,if something against me happens, I was out with the loss I still can breathe or live well. I did lots of averaging down trading too, I hurt several times, thenI learned when I should stop averaging down or in a another better term,scaling up. Icalled myself a professional trader, since I make a living on that.I used the same weapons as the general public, theonly difference is I know how much risk I can tolerate, underwhat situation,which strategy is best suited or the odd is the best my suggestion to the public: sit down, learn by yourself: donot take easy pass/shortcuts, study how to use those strategies and take advantage of them
Unfortunately, for most people they do in fact buy at highs...its called "Herding". Not really for day trading in this example, but here is a good video that will explain.... http://www.socionomics.net/free-reports/1010/1.aspx?up=st&code=FRCULTTRENDS&articleid=2105