This is what I dislike about this thread. There can be 20 posts discussing a bounce when, if you were to follow them closely, the participants are only talking about a small bounce or a bounce that is to setup a real opportunity -- a short.
How useful is that? We would do better to concentrate on the wider timeframes and the bigger opportunities. The most important question for the next week or two is this:
I have thought about posting these same words here, for some time now. So I couldn't have said it better.
I used to come here a lot, because I like the Ewave stuff, and there are some good teachers here. Plus I've learned a lot here, and that is part and parcel what these boards are supposed to be about.
But I've wondered for a long time if the forest is somewhat hidden because of the front row of trees. I guess I'd have to admit I think it is, and so I don't come here as regular as I used to. No loss for this place I suppose.
And so few here seem to be in gold, in fact just before the bounce as I recall some were in fact bearish, and others thinking the 'risk' wasn't worth it. And maybe I'm forgetting something but I think some here were recently bearish bonds as well, or more bearish than bullish.
None of us are correct all the time, but hopefully more than 50% of the time on a dollar basis. Else over time we go broke. In the end this business imo is all about making money. I seem to make mine best in looking past the daily dribble and looking for longer term risk/reward setups. I'd have to successfully complete maybe 10 to 20 daily setups to equal one good LT setup. Statistically I don't think my chances of doing that are very good. OTOH LT today isn't very LT but it is still well beyond a day.
Nothing personal to anyone here because I think this group a very knowledgeable and gentlemanly bunch, but at the same time maybe a slight alteration of tactics might be considered. IMHO. |
