"Pictures" worth more than thousand words. [10% to 15% correction is coming] | Traders Hideout


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"Pictures" worth more than thousand words. [10% to 15% correction is coming]

  #32 (permalink)

Legendary Market Wizard
Columbus OHIO
 
Trading Experience: Intermediate
Platform: NinjaTrader
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mrphr View Post
No I am flat, I swing trade stocks and day trade futures... So if I am day trading futures I trade my set up I have no bias even if I believe a correction is due and it is health for the markets as well etc, if I have a signal to buy I buy if I have signal to sell I sell and I am flat by the EOD.

I can not swing trade stocks at this current market condition anymore because of high valuations and because I do not want to get caught on the pre market open/close with a gap of thousands points on my stock when this bubble explode.

Well if you look at the equity indices for the past two days it looks like it already has begun, too early to call a 20% correction but it has to start somehow.

This can easily be classified by a mean reversion trade, price is currently to over valued to and possible at the point where we need to return to the value area to determine if we move up or down i would hardly call the last two days a clear sign.

And if that's the way you trade then it shouldn't be a huge deal to you in what way the market moves ( bull/bear) because you can swing either way. i take a very similar approach and could honestly care less as long as we have some movement for the day.
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but like you said it is healthy and could end up helping the markets in the long run.. who knows i don't trade stocks anymore that's a different animal.

what futures are you trading??

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