Today's news: US economy is contracting at 0.1%. The same news came out just a week ago by IMF that Europe is contracting at 0.2% instead of 0.2% expansion. Market action : so lets take DOW to 15000 instead of 16000 !!!. I have noticed that market ignores some very bad news and then collapses by on a so so news. This time is no exception.
And last year? You admitted "nothing worked". I don't know their investors. But I've been watching your colossal failures for years. One lucky trade wipes all that out does it?
Speculatively speaking, the above statement applies to any reason for entry. Ultamately, any method for entry is only as good as the trader using it.
Here's some jackass taking shorter term trades with the same bias as the longer term trend. Over in the Index Futures forum. Clearly he doesn't know what he's doing. http://www.elitetrader.com/vb/showthread.php?s=&threadid=258232&perpage=6&pagenumber=1
It shouldn't matter. Price is in an uptrend, therefore it is more likely to keep going up, according to trend followers. I'm curious at what point these trend followers decided "ok, based on the close of the previous bar, I am now confident in saying we are in an uptrend." MA slope? HH/HL series? Indicator? I'd like to see trend followers define their trend in real time instead of showing charts with already established trends and saying "look at this big trend we are in. btw, I bought at the beginning of it because I'm a trend follower! Trend following is so awesome!"
Why is everyone on trading forums so quick to be like "JUST CUZ YOU'VE NEVER SEEN IT DOESN'T MEAN IT DOESN'T EXIST!!!"? That's absolutely true, btw, and I even acknowledged it earlier on in this thread. But I've never seen anyone else who claims to be a trend follower make money, either. Lots of people post after the fact charts. No one posts real time calls. You don't need to explain trend following. I understand how it works. Nearly everything I do is counter trend, and I've been posting real time calls in my journal threads for years. Last time you checked there was a specific way to make money? Are you following that method? Where is your journal with real time calls? What criteria does one use to screen out the trends that aren't tradeable in real time?
VXX=24.43 and SPY=149.95. It took only some 6 trading hours for the market to start showing that they can be ridiculous.
But it does due to risk. I can see there is no point in further discussion so I won't run up my post count any further. I'd like to demonstrate it for you but I'm not a trend trader per se.