Friday I got out of my long trades. Apparently too early. What can I say... hindsight is 50/50 ha ha ha I rode the Dow Bull market up for 4 weeks and a day. Though i must say... I did see a lot of my fellow traders that I chat with outside of the Forex Factory website get burned many times trying to short the market because they didn't pay attention to the higher time frames. Next week I think it might try to go up a bit more.. I will keep my eyes on price behavior to look for potential short opportunities. If the bulls are still showing strength I might jump back in for another long, but I will do so with great caution as my bias will start to become more bearish.
I do think that some of these strong moves are due to some big economic news speculation and some economic reports.
Luck has no place in trading. Leave that for the poker table.
{quote} Friday I got out of my long trades. Apparently too early. What can I say... hindsight is 50/50 ha ha ha I rode the Dow Bull market up for 4 weeks and a day. Though i must say... I did see a lot of my fellow traders that I chat with outside of the Forex Factory website get burned many times trying to short the market because they didn't pay attention to the higher time frames. Next week I think it might try to go up a bit more.. I will keep my eyes on price behavior to look for potential short opportunities. If the bulls are still showing...
Ignored
Pretty much my thinking as well. I would love to join the longs but when this starts to turn south; it will be massive so fast and so quick. These uptrend moves are bubbles. But I kind of have a feeling all the US indices are going to make new all time highs and a bit more before it turns south. The move up has to be aggressive to give us signs it is going to turn south.
