The ES
January 27th I told one of my students that I would do a video when we were talking Friday night. she was long because she was Trading the move higher on the S&P. so she took a drawdown on her long position because it traded lower from the high on Friday. I made the mistake Italian her that the market was most likely going to go higher because of a two-bar reversal that would indicate the market might retest the high... and that if she were still long she'd be able to get out at a better price. this ended up being very bad advice because the market gaped on the open on Sunday. but this kind of volatility if you don't get stuck on the wrong side of the market gives enormous reward for buyers and sellers if you look for a reversal patterns that favor buyers and sellers if you know how to determine where the buyers and sellers are. my guess is since I don't know everybody.... is that most Traders will not short any Market no matter what. the one thing that I didn't say and I want to say here.... if you're only a one-sided Trader..... you will only take long positions.... you're bias will likely not help you look for a reversals in the market that go higher because your brain is only looking for buyers and your strategy will be that you want to be long and you never want to be short and that kind of strategy can filter out any real thought about what a good trade looks like and you're just not going to do it anyway. even if you don't think like a one-sided Trader even though you only go long I believe your bias is still detrimental to your ability to look for the two major things that create havoc in your Trading... not knowing where the buyers are and where the sellers are even if you don't short. it just for the records it it's much easier to take short trades in the Futures Market than it is to take short trades in the equities Market.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.