Too often the doom for traders is too much information more than lack thereof. That's why the most successful traders will relate the story of having a set of rules and sticking to that with the belief that, long term, your edge will allow you to come out on top. A lot of traders dabble in this and that and blow account after account.
I have made peace with the fact that I have an edge and trade by trade it may, sometimes, seems gloomy but when I look back over a set of probabilities the edge always presents itself profitable.
I present to you this chart;
An enormous 11% gain . If you had a vintage ferrari that needed to be sold, denoted by 1, 2 and 3 are prices at which you could sell your vintage ferrari, which price point would you be likely to sell at? For me personally the ideal price point would be 3 and this supports my theory for a bullish market .
It should be noted that I am not calling the bottom of this bear market by any means, I am just analysing the opportunities presented to me because in our quest to become profitable traders we all learnt that the market like the diaphragm has to do two things in order for it to continue existing - breathe in and out. A market the expands without contraction is a questionable market and bound for failure. This market has been expanding and has now shown evidence of contraction and I see a massive counter trend opportunity which I am willing to risk taking.
I have made peace with the fact that I have an edge and trade by trade it may, sometimes, seems gloomy but when I look back over a set of probabilities the edge always presents itself profitable.
I present to you this chart;
An enormous 11% gain . If you had a vintage ferrari that needed to be sold, denoted by 1, 2 and 3 are prices at which you could sell your vintage ferrari, which price point would you be likely to sell at? For me personally the ideal price point would be 3 and this supports my theory for a bullish market .
It should be noted that I am not calling the bottom of this bear market by any means, I am just analysing the opportunities presented to me because in our quest to become profitable traders we all learnt that the market like the diaphragm has to do two things in order for it to continue existing - breathe in and out. A market the expands without contraction is a questionable market and bound for failure. This market has been expanding and has now shown evidence of contraction and I see a massive counter trend opportunity which I am willing to risk taking.