Trades TIME INSTRUMENT ACTION QTY AVGPX EXCH COMM 1:41:44 YM Jun16 '17 ECBOT SLD 1 20865 ECBOT 2.02
Do you remember the days of identifying a trend and then riding the momentum to a decent profit? Current market conditions will easily shake a bull or bear out of a profitable position. Im reminding myself that securing profit is better than looking and holding for the big trade. Traditional technical analysis will not work in this volatile market. A retail trader has to identity the momentum and take what they can get and get out while they still can. Avoid getting whipsawed, and the massive losing trade... advice I try to adhere to myself.
As a technical trader who prides him self on catching the big trend, I can confess that this bull run has left me in the dust. In 2017, I never expected the DOW to reach far above 20,000, in fact, my entire strategy for 2017 was to be prepared to short the guts out of the market... surprise surprise, pundits are talking DOW 30,000 in the next four years.
This is the kind of market J. Livermore wrote about, being able to be long in the market even when it feels difficult. That is easier said than done, market has away of scaring both bulls and bears out of their positions.
I met a guy who explained to me how well he did in the stock market back in 90's. He casually told me he would just buy, and buy more when the market dipped. Not a bit of technical analysis, he didn't even know what technical analysis meant. Just buy blindly.
Well, we are who we are, I will remain on the sidelines until until until I see a clear bearish trend.
Enjoy the rally!