I would say "Markets can remain irrational longer than you can remain SOBER." or We can start a new thread and call it "The legends of the Drunken Market."
indahook and Scientist - if you guys are so creative in your trading as in your galactic market place analogies, I am ready to give you all my capital to trade Unbelievable...
It really is just a matter of time perspective that distorts a move and makes it seem like it is too much. One of the biggest errors a trader can make is to stand in front of the train no matter if it's going East or West. We all know this, so why do so many fail to apply it to live trading ? The reason I believe is because once we Buy/Sell it becomes personal and theres where you have the Opinion and Bias monster hiding.
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Thanks Neutrino! Sorry to disappoint but my trading approach is prolly one of the most un-creative on ET. Daily chart using candles and volume only. When I see a stock that I think is going up I will use a buy stop .01 over the previous days highs(vice versa for shorts) and use the day I entered`s lows/highs +/-01 as my stop. position sizing according to my max loss per trade of $500.00 and using a min 2-1 win loss as my profit tgt...always taking profits on limit orders. Scientist is the real deal! He acquired a temporal distortion device that allows him to scalp the DAX in real time while making everyone else move in slow motion...unbeknown to them!
Bars & volume is all you need. Simplicity is king. Thanks hook, the sad update on the story is I have stopped using the temporal distortion device on myself after I saw what I did to my cat. Since I am a Leo myself, I fear it might have a similar or worse effect on me. Never trust technology.