Thursday, May 21, 2009

As The market Dips Conflicting and Confusing Trend Opinions

If your like me and have gone through a couple market trend swings its interesting to see the experts we look up to often have very different opinions of the short to intermediate trends which are the most important of active trading. If you rely on someone else to tell you the trend before you trade this can be a big problem and certainly will not leave you with much confidence. Who knows who's right? I think it is very important before you start trading to learn how to read the market and make your own calls on the trends. Don't leave it to someone else. If you don't achieve this level you will never have confidence in what your doing and be second guessing everthing you do. Spend the time on technical training and learn to make the call and sleep with it. And of course a little protection in the way of the right stops and portfolio management sure doesn't hurt for the times when you will only be human and make the wrong one. For a good example of someone who's doing this right ,in my opinion , go to the Real Time Traders Community Room and check out Andy's weekly posture posting. Heres a guy who makes his own call every week, shares it and trades by it. I think it's a great example of my point. I'd like to hear your comments and questions on this one.
Have a Great Memorial Day Weekend!
John