Matt - Your analysis is spot on. Most people get very
emotional during inflection points. I went short at today's
open. then cashed out midday. Then I went short again
during the next bounce but then got stopped out an hour before the
close. Then i saw the news hit about Trump and giving a news
conference so I new to exit my short position. I lost 2% of
my gains but was up for the day. Then I went long Weekly SPY
call options that expire next week and going to cash out tomorrow.
I will look to go short again at the gap into huge
resistance around 290. If I do not get any signals than I
will just go to cash. Emotion is the #1 killer of trades.
Anyone can make an argument why you should be bullish or
bearish right now but price and time and TA is going to win over.
The market doesnt give a rats ass about what anyone thinks.
Its job is to fool you and take your money.
it’s better to look at daily charts to know the levels during
the day and most importantly remember not to get carried away with
the shape of the candle stick until closing. Trendspider charting
seems to be more informative than stock charts lately.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Matt - Your analysis is
Anyone know why futures popped there at the end. I ...
Posted by ssaffer on 16th of Apr 2020 at 10:34 pm
Matt - Your analysis is spot on. Most people get very emotional during inflection points. I went short at today's open. then cashed out midday. Then I went short again during the next bounce but then got stopped out an hour before the close. Then i saw the news hit about Trump and giving a news conference so I new to exit my short position. I lost 2% of my gains but was up for the day. Then I went long Weekly SPY call options that expire next week and going to cash out tomorrow. I will look to go short again at the gap into huge resistance around 290. If I do not get any signals than I will just go to cash. Emotion is the #1 killer of trades. Anyone can make an argument why you should be bullish or bearish right now but price and time and TA is going to win over. The market doesnt give a rats ass about what anyone thinks. Its job is to fool you and take your money.
it’s better to look at
Posted by arun on 16th of Apr 2020 at 10:51 pm
it’s better to look at daily charts to know the levels during the day and most importantly remember not to get carried away with the shape of the candle stick until closing. Trendspider charting seems to be more informative than stock charts lately.