NASDAQ: FEAR > (GREED + HOPE) ==> CORRECTION.In this screencast I set out why I think the NASDAQ is in deep trouble and uncertainty. This is truly beyond technical and fundamental analysis.
I'm looking into the psychology of markets. There is a whole lot to fear in this market. Reality is catching up on fantasy. It's been a long lovely dream and the big boys have made their killing. They will not want this to turn into a nightmare!
I explore patterns that today, are pretty similar to 2007-ish
I show why I think the market is exhausting. I say that quite possibly fear may outweigh greed and hope.
So the equation in a superheated bull market is:
FEAR > (GREED + HOPE) ==> CORRECTION.
DISCLAIMERS: This is speculative opinion only. That the post is listed as short is only an indication of probability estimate for the south. It is not intended to cause fear or to advise people on making financial decisions. Your decisions are your own as well as the risks you accept. If you lose out on profits or otherwise lose money, kindly sue yourself!
HOPE
DJI update: fake news and almost free money. The DJI is approaching an all time high of about 278400. This market has become pretty volatile mostly at 30 - 50 minute charts.
Although the DJI is pushing north madly, it is a market that is being moth eaten. It's instability is likened to a Jenga tower. The instability is also seen in trend switches down to the 5 minute level.
PSYCH HACK #0004 - understanding luck, chance and riskIn this screencast, I review my ideas on luck, chance and risk.
I do not depend on luck, hope or targets in my trading. This has appeared rather strange to some I've been in contact with recently.
I say that sensible trading for consistent profitability cannot depend on luck. Yes - it involves taking carefully risk-assessed chances and controlling loss.
I assert that luck is not part of my 'equation'.
S&P 500: Panic breaks outThis is a short one. It appears that the SPX spooked itself last night! Well, to be fair it was probably news of the death cross which caught some investors, that was related to some price action.
Markets - at their tips - are ruled by hope, fear and greed. Watch this space. No predictions - as usual. :)
99% of day traders consistently lose money (educational)In this screencast I present results of a scientific study carried out on day trading, in the Taiwan Stock exchange. I explore some volatile instruments that some day traders may get stung by.
The results of the Taiwan study are shocking. Disbelief leads people to argue that 'that's in Taiwan - so what?'. However the results are informative of cognitive and behavioural characteristics of day traders, more widely.
Even if the results are 50% applicable outside of Taiwan, they are seriously worrying.
For those interested in reading the study, Google: "Do Day Traders Rationally Learn about Their Ability".
So, what does it all mean? For me it means:
1. That the knowledge, skill and experience required to be consistently profitable are extreme.
2. Day traders are most at risk of burning their accounts and departing never to return.
3. Even seasoned traders are at huge risks of losing money.
4. It isn't about methodology - it is about 'individual trader psychology'
New traders need to be very cautious in following experts. A fair few of seasoned traders have set up training programmes, from which I suspect they make more money training, than in trading. Hard evidence on that is of course not easy to come by. But it's not me just saying so - a handful of true experts out there have said similar.
[ For the avoidance of doubt, I have committed never to sell anything to new or seasoned traders. What you see is what you get. I do not need anybody's money. ]
Brace! Avoid being flushed out in the 'Economic Colonic'. In this screencast I show how I attack the US30. It's very different to what you see 'out there'. This is about a robust and real trend-following methodology. And not - I'm not selling anything! WYSIWYG. Totally for free! Everybody deserves a chance.
Reality has come home to the markets - globally. There is a mega trade war on at the moment and it has been for several weeks. The impatient and greedy will lose their money to those who are patient and strategic.
BTCUSD / D1 : Market replay of a crash pattern compared to BTCHope this idea will inspire some of you !
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Indicators used in this forecast are PRO Sinewave & PRO Momentum .
You can check my indicators via my TradingView's Profile : @PRO_Indicators
Kindly,
Phil
If you want to learn more about the basic rules to trade with my indicators here's the educational video link :