This is where contrarian approach comes into play getting warm fuzzy feelings like each cinema goer (almost an extinct group with 'free' streaming) leaving after watching The Big Short. Margin Call, Too big to fail etc are all movies reminding the general public how they should have seen what was coming. Hence all it does it reinforce the mindset of picking tops and bottoms. Does nothing for real trading skills unfortunately.
How many here were recently talking of shorting the gold price bullish momentum or US equities indices momentum as well? Heaps and those who were very short term swing minded profited while those picking the tops were likely to have done their dough in. Some were even revenge traded their bias continually but you don't hear them talk this way anymore LOL.
My degree did Jack sheet for my trading initially when I fell into the masses all looking for the holy grail no brain cells indicators mentality. Just use what the maths derived models suggest and sit back with a laptop by the pool and mint $$ like The Feds. How many here seriously can say their indicators were consistent in providing profits. Sure occasionally will provide a good massive trade. Plenty were riding whatever sector on some lucky stocks then proclaim to be the guru of decade long term style hold. HaHa I used to be a Guru of the Uranium sector having piled in right to my eye balls and it was sheer luck that gave me exit points before the SHTF. I do not claim to be skillful in my judgement. The same goes for the IO sectors too. Basic luck over skills.
Someone said that in a bull markets every one is an expert/Guru but a downturn will separate the men from the boys. Here we are with a severe down turn in Gold until recently and we are beginning to see gold thrill seekers coming back claiming the bottom is set and market world wide will crash blah blah..... Is that Skol camp? Who know and don't care. Not trying to be right as I have always said, just trying to be profitable. I can only measure profitable efforts through PRICE not TIME! Time is for those trapped bulls of which I have suffered my fair share.
I will look up Greg Mannarino, probably similar to Dr Alex Elder who is another medical doctor who turned a successful trader/mentor.
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