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Hi all.
Would you have been able to stay in YM all day, until about 2 PM? (I know I wouldn't have! I would have sold way too early, ha ha ha!)
What a beautiful trend, right? I'm hoping to develop the skills to be able to profit from such trends.
Mind you, I wasn't following YM today; I only looked at it after the close. Enjoy!
How often do markets trend?
How do you know a beautiful trend will unfold beforehand?
See that first big black bear bar retracement?Scary? When to hold when to fold?
Posted by: @watermalbtinternet-com
How often do markets trend?
Well... Depends on the market. Some futures markets, the ones I follow, usually have one or two good trends a day. Often at the open; sometimes at the close; sometimes, even, in the middle of the day. But each market has its personality. Crude Oil, for instance, usually (I did say "usually", didn't I?) does nothing after noon.
How do you know a beautiful trend will unfold beforehand?
Ah!!! You don't! Impossible! In our universe, the future, what lies beyond the "hard right edge", is revealed to us one second at a time. No more.
We can guess, we can hope. But that is NOT knowing!
See that first big black bear bar retracement?
Yes, the big black bar! And looking at it in a snapshot is nothing compared to living it, with all its ups and downs. You want to relive this (in "market replay") again and again so you get used to the behaviour and to the emotions (your emotions) as you're watching your "profits" melt away before your very eyes! But they were NOT your profits: you had not sold!!! Until you sell (in an uptrend, of course), and dump real dollars into your account, those green numbers are nothing but vapour!
Stephan, tell me (I'm a newbie here): after four years, how are you doing?
Best wishes!
Brooks course is the best!!
I apply it to capturing the multi day/week swings in stocks and do not day trade.
