LOL nothing works all the time. Just like buying a
breakout stock doesn't work all the time, buying a bull flag
doesn't work all the time, nothing does.
You miss the point of my write up: The point is, that's
objective and lower risk then shorting after a sell off that takes
out support and now the market is oversold, thus your risk is
higher. When you short an oversold bounce, the market is no
longer oversold and thus your risk is lower and you can have a much
tighter stop. I never said anything about working all the
time.
Read my baseball analogy below, here's a link. Successful
trading is not about winning on every trader, it's about playing
the odds and taking trades with good risk/reward ratio.
Title: click to expand LOL nothing
Elliot Wave, shorting oversold bounce
Posted by matt on 10th of Feb 2011 at 04:15 am
LOL nothing works all the time. Just like buying a breakout stock doesn't work all the time, buying a bull flag doesn't work all the time, nothing does.
You miss the point of my write up: The point is, that's objective and lower risk then shorting after a sell off that takes out support and now the market is oversold, thus your risk is higher. When you short an oversold bounce, the market is no longer oversold and thus your risk is lower and you can have a much tighter stop. I never said anything about working all the time.
Read my baseball analogy below, here's a link. Successful trading is not about winning on every trader, it's about playing the odds and taking trades with good risk/reward ratio.
Elliot Wave , shorting
Posted by moh007ed on 10th of Feb 2011 at 05:31 am