Top/Bottom Picking

Discussion in 'Trading' started by Rashid_G., Nov 16, 2010.

  1. What is it that is soooo intoxicating about not waiting for reversals and trading AT price levels against a trend? Each Morning I swear I have faded my last price level and will simply wait for an audible reversal alert, but later in the day I am wondering what happened.. The pattern is make money in the direction of the market then as a price level nears.. boom I reverse positions and surely enough I give it all back!

    Today short ES from 1188, reverse 1183 after-all 1180 WILL hold.. Even significantly trimmed my Euro short prematurely. A double whammy... not letting the market tell me how much it is willing to give..


    Have considered deleting price levels entirely

    Trade in one direction only to remove confusion

    Stop all-in all-out trading

    Of course the solution is to quit top/bottom picking...

    Doesn't help that indices have become so uni-directional once a trend begins no swings to let you in.
  2. Lucrum


    Sounds like someone with head lice and dingle berries. :eek: