Trend is your friend (Image attached)

Trend is your friend...

I've read this over and over - yet I don't seem to get it?

I suppose the cable has been volatile lately. I know, I was butchered on the cable today. I'm a fairly new trader, so I guess it was a valuable lesson... I think, I've learned a lot from this experience... I had almost recovered from the first loss I endured, when I decided to print myself a small reminder-poster to put on the wall, but - even as I was producing the reminder-poster (typing the letters) - my patience ran out - and I was forced (by my bad judgement) to enter long on a down-trending cable - how smart? Well, I was butchered again... Now; I'm going to make sure to follow the trend - instead of competing with the market. :o) Anyone interested can print the little reminder-poster - maybe it'll help save your -ss. hehe. Happy trading.

Simon DK

90% of traders are wrong on the future direction of the trend at the turning points....


Thanks,

Nader

I'm not sure I understand your point. Isn't that why it's called a turning point?

I feel your pain on that one....I always follow my opinion rather than my system lol...tough habit to break!

What is C.A.R.?

I believe what you're referring to is Close And Reverse. This is a system in which a long exit is a short entry, and a short exit is a long entry.

I was forced to follow the trend when I learned that I have lose a lot.

What I mean is that in real life trading, there is a huge tendency that 90% of traders (Usually retail traders, the ones like us) enter a trending market at the top & short at the bottom...This is a very famous quote, that most retail traders are right during the middle of the trend and wrong at the turning points, i.e., tops & bottoms...


Thanks,

Nader