For many buying in a super parabolic uptrend is harder than walking on water, therefore, they opt to counter trend it, most of the time, ineffectively.
A good entry should feel uncomfortable. Most would want to enter on a dip, buying just after a top has formed.
Why should it? I mean, elite trader is where every profitable trader and millionaire gets his manhood and social circle, discussing how well they do and how they will continue being the best players in the market. Or maybe some people around here are such dolts that they don't know what pe is. And how apple's is less than the spy. Apple makes lots of money, so they're valued at $600b - any questions?. Oh and the usd is worth allot less, so $600b is especially nbd.
Never thought about it like that, but very true. Another perverse part of human nature I suppose. It's certainly cost me a great deal of money in the past. Until you finally realize the most important "Trading Truth" of all is: THE TREND IS YOUR FRIEND! lots of your money will continue to be flushed down the "I Want To Be A Contrarian" toilet.
I don't like the trend is your friend, most trends are stopped short. You must trade movement, whether it is in trend, range or chop. The movement is caused by several factors: imbalance, momentum ... etc.
I think it's one of the most common mistakes that people try to call a top/bottom. They could try to short the up trend and be right once after 9 wrongs. It's better to buy on dips and follow the big trend and be right 9 times before failed once.
shorting thru earning in two weeks? and already 8 points in the red as of right now. This hard to believe.
Uncle Ho short treasuries a few years ago and got taken to the cleaners, I see nothing has changed in 5 years!
I'm still selling those bondos surdo man!!! How you been over the years? He can admit that I am a true trader.