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New All time high on S+P?


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#1 salam

salam

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Posted 21 August 2014 - 09:56 AM

Still no sell signal of any importance. Resistances are tearing like tissue paper. Fighting the tape has lost me a lot money over the years. You can either follow the trend and let the market/casino work for you and give you money OR your hard earned capital can be given back to the casino by fighting the trend. I only do countertrend trades with predefined stops as I know exactly what I will lose, or cover a winning position and scalp. Not using stops, overtrading, incorrect postion sizes , ego, lack of discipline....yadda yadda You have heard it all before. Again, Im waiting to be stopped out just above the high of the year like most who fought the tape. I fear I will lose 8 points. But, I will be back in cash and sleeping well at night. If not, I get the money back from Mr Market that he took from my last two trades. Plan your trade and trade your plan. You will sleep so much better :-)
I'm not sure what my future holds... But I know who holds it.