Everything is bad everywhere. Those who shorted on Friday at the resistance line and inflection point, have strong hands and can hold on to their positions. Everyone else is worried and scared because we are bouncing around some intermediate support lines right now. Can we reverse and go up, Yeah! we can. Nothing is given, If it were, it would have been too easy, but one must look at the probability of that happening. How likely will that happen.
Most people just watch the market, are scared to enter a trade and wait until the breakout occurs. I see this advocated here by some that probably never put money into risk and never trade. Yeah, you can do that too, be a spectator, laugh at those who lose and be jealous of those who profited.
It is understandable that most people want to feel safe and comfortable before they enter a trade. If you wait until breakout, you may be buying a trap, a whipsaw or chase a rally that may reverse on you the moment you buy, If you sell into panic, the market often reverses right after you sell. This is not how to trade. The uncomfortable trade is the one that makes you money. It is often the contrarian one. The key is to find an early entry point and ride the trend up or down until a breakout or breakdown occurs. If you buy, or short early enough in the trend, especially on inflection points, you are in green and have accumulated a cash risk cushion to absorb account fluctuations even if the market goes against you. This gives you strong hands to hold onto your position. Always check charts in all time frames and stick to the prevailing trend ignoring minor ripples. If it feels very scary, or your account has suffered damage, reassess, and start very small again. Don't add to losing positions to average out. Only add to winning trades (If the trade is winning, it means the trend is going in the right direction and not against you) followed by stop loss orders to protect yourself.
Disclaimer: This information is for entertainment only, it may be incorrect and should not be used for your investment decisions as you may lose all your money...and.. although my name says so, I am not from the future and don't know the future. I may or may not hold positions in symbols I talk about. I may change my mind and not tell you because posting stuff is not my priority. I just post things for fun based on what I've learned and that may be incorrect. Seek help from a REAL certified financial adviser (NOT who I am - I'm nobody) for your investment or trading decisions involving real money .
Most people just watch the market, are scared to enter a trade and wait until the breakout occurs. I see this advocated here by some that probably never put money into risk and never trade. Yeah, you can do that too, be a spectator, laugh at those who lose and be jealous of those who profited.
It is understandable that most people want to feel safe and comfortable before they enter a trade. If you wait until breakout, you may be buying a trap, a whipsaw or chase a rally that may reverse on you the moment you buy, If you sell into panic, the market often reverses right after you sell. This is not how to trade. The uncomfortable trade is the one that makes you money. It is often the contrarian one. The key is to find an early entry point and ride the trend up or down until a breakout or breakdown occurs. If you buy, or short early enough in the trend, especially on inflection points, you are in green and have accumulated a cash risk cushion to absorb account fluctuations even if the market goes against you. This gives you strong hands to hold onto your position. Always check charts in all time frames and stick to the prevailing trend ignoring minor ripples. If it feels very scary, or your account has suffered damage, reassess, and start very small again. Don't add to losing positions to average out. Only add to winning trades (If the trade is winning, it means the trend is going in the right direction and not against you) followed by stop loss orders to protect yourself.
Disclaimer: This information is for entertainment only, it may be incorrect and should not be used for your investment decisions as you may lose all your money...and.. although my name says so, I am not from the future and don't know the future. I may or may not hold positions in symbols I talk about. I may change my mind and not tell you because posting stuff is not my priority. I just post things for fun based on what I've learned and that may be incorrect. Seek help from a REAL certified financial adviser (NOT who I am - I'm nobody) for your investment or trading decisions involving real money .