You cannot expect to get the perfect entry. There will be times when you have to accept that there will be some heat taken on the trade if the timing is a bit off. But with the long side, even if you are a bit early, it is much more forgiving for those that can take a small drawdown.
This bull market has been marked by its resilience, and the skepticism that it draws. I have never seen a more hated bull market. It doesn't mean we won't go down, but it tells me that stocks are in the hands of strong believers, and we've shaken out the weak hands over the past 2 weeks.
The bears are out in droves as we broke the 100 day moving average. All of a sudden, everyone is a technician. And of course there is the Ebola crisis, just for the extra kick of fear. Everyone wants to buy the dip until it arrives. The dip is here.
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5 comments:
Looks like we are going all the way. FTSE way down and S&P appears to have more to go.
Absolutely relentless.
V bottom intraday. Looks like we got the panic capitulation intraday. Still long and looking to catch a strong bounce over the next 2 trading days.
When you have a general time or place when you want to buy, isn't it better to divide the purchases into a 2 day period instead of trying to hit the bullseye from a mile away
Different strokes for different folks. I set certain time and prices where I want to buy or sell. I rather try to hit the bullseye than spread out a trade over a couple of days. Although your method has merit, I admit.
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