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Agreed. Anticipation is everything in trading. But I can anticipate the
end of a correction in the direction of a trend or I can anticipate the end
of a larger move. I've had more success anticipating the end of counter
trend moves in the direction of the trend. Trying to pick a long term
bottom can be more difficult and problamatic. In situations like these the
trend seems like it's about to correct then wham it gets slammed back down
and you're left thinking, man if only I had faded in the direction of the
trend.
-----Original Message-----
From: Mark Brown [mailto:markbrown@xxxxxxxxxxxxx]
Sent: Sunday, November 01, 1998 10:21 AM
To: List, Omega
Subject: Re: Trading Level 2 using THE EXECUTIONER
The other day was a good example of why its better to counter trend trade.
Everyone I knew was short and they got hung. We are in an age where going
with the flow is going to continue to kill. The only hope for survival is
to go against all that is taught and known. Trend traders have no future,
and trading what you see is just stupid! I dont really care what anyone
thinks other than to do the opposite. I know this wont set well with 99%
but for you who can get it then do. MB
:The S+P's are a rough market to trade for sure not just because of way it
:moves, but also because of surprise moves like the one the other day when
:the Fed gave their annoucements. (seemed to move more than any other market
:and faster too
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