gold, page-3424

Yeah I'd call picking the bottom of a trend, trend trading. Picked a bottom here at 1210, we,ll see if I get smelly fingers or not. I would call identifying a trend over a given timeframe and going net short (or long) against it in context of the timeframe bad trading. Simply because the probabilities are stacked against you. For example I very occasionally buy a short mini on NCM if I think it has over shot intraday - but I won't hold it overnight and expose it to the trend on the daily. But sometimes I let the long minis run into next day. Better to have the odds on your side than your conviction, IMO.