friday trading, page-68

Yes you are right in theory Danube, it depends what your view is. I anticipate a rally back to the 5000 region then back down breaking lows to 2500. If my analysis is correct "IF" then this is the bottom of wave three - here and now. The issue for myself; if I am not involved and markets start rallying it could do all sorts of funny things to your psychology
" I missed the bottom"
"I'll wait for the retrace"
"I'll wait for the next higher low" etc.

The point for me at leasrt, and I have done it before - is to get involved as soon as possible and manage your position from there, I have very loose stops.

I am down substantially, but I need to trust my ability... right or wrong I need to back my instincts. I need to get involved here...it's painful for sure...but sure can be fruitful.