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16 minutes ago, HPbrand said:

A lot of people are getting REKT.

Anybody who has money in an S&P 500 tracker (for example) is taking losses but by this time next year they will have made them all back and then some ... they are saving money for retirement and not trading on a daily basis.

Edited by dmedin
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Just now, dmedin said:

Anybody who has money in an S&P 500 tracker (for example) is taking losses but by this time next year they will have made them all back and then some ... they are saving money for retirement and not trading on a daily basis.

either way won't be much good when you're a zombie is it 🤧🤧

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3 minutes ago, dmedin said:

Anybody who has money in an S&P 500 tracker is taking losses but by this time next year they will have made them all back and then some ... they are saving money for retirement and not trading on a daily basis.

I was not referring to long term investors that will take their holdings with them 6 feet under. I was referring to frequent traders. 

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Also buy and hold strategies guarantees them to be wage slaves as @dmedin refers them to be. Simply cannot afford a comfortable retirement from that kind of returns. You want an example just look at what Mr Nenner looks like. This is the face of a man in denial. The poor chap will see the current correction as once in a lifetime to short to Dow 2000.

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1 hour ago, cheviot said:

 

Some time it works pretty well...Just bought Apple at $274.35 , bottom of channel and Fib correction, now up $ 10 in ten minutes..... Thats contrarian trading... 

You know what you are doing though, not everyone can think for themselves.

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Contrarian is like the opposite of what TA is supposed to be about, isn't it?  In TA the idea is to follow trends regardless of how irrational you think they are ... you go where the money is ... contrarian appears to mean trying to call tops and bottoms especially when this means going against a prevailing trend ... far more sensible to wait for a clear signal that a trend has turned first ... I don't see TA as a way of being a 'smarty pants'.

Edited by dmedin
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22 minutes ago, HPbrand said:

You know what you are doing though, not everyone can think for themselves.

Thank you  I take that as a compliment.  

Today has been something for everyone.....Bull and Bear....  Brutal in either direction.....  Very volatile....which is good to make a few $$$....but **** ..If you ca nt hit a barn door....     to save your self....  

I would say with my Apple trade....If it had gone wrong i would have been prepared to sit it out  as Apple is a good company , and probably fairly valued at $270-$289 even with Covid 2019 .  I just thought it over valued at $325 and over bought....which it was ....

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6 minutes ago, cheviot said:

OIL .......DONT LAUGH,,,,,  I think we completed the final down leg of the correction.....It hit and held the 123.6% extension of big A.....see below... 638945049_Oil-USCrude_20200227_17_53.png.84479f743593edd7ad26667b7a136b13.png

 

 

Yes a corrective bounce ...

Why would it rally hard from here?  Who is going to start suddenly buying lots of oil while the virus thing is still up in the air?

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31 minutes ago, dmedin said:

 

Yes a corrective bounce ...

Why would it rally hard from here?  Who is going to start suddenly buying lots of oil while the virus thing is still up in the air?

Shorts will start buying....Big hedge funds are plenty plenty short

and  the Saudis are going to turn the taps off...

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I've given back so much by trying to go long at 'bottoms', when a SELL AND HOLD strategy would have been best this whole entire time.

See a 'trend' emerging here?

Alternatively - yes I can see it is more obvious on 1 hr charts (and for some people on 15 mins) - but in that case you really do need to be glued to the chart all day long.  Nothing worse than being stuck a chart all day long and coming away with nothing, or even losing all your dosh.

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16 minutes ago, dmedin said:

I've given back so much by trying to go long at 'bottoms', when a SELL AND HOLD strategy would have been best this whole entire time.

See a 'trend' emerging here?

Alternatively - yes I can see it is more obvious on 1 hr charts (and for some people on 15 mins) - but in that case you really do need to be glued to the chart all day long.  Nothing worse than being stuck a chart all day long and coming away with nothing, or even losing all your dosh.

 

Plays a sound a few seconds before a candle closes.

https://www.mql5.com/en/code/11051#:~:text=Candle Closing Time Remaining (CCTR) Version,3 - indicator for MetaTrader 4&text=Candle Closing Time Remaining (CCTR) is an indicator which displays,open candle to be closed.

 

https://www.mql5.com/en/code/20185/

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