Nobody has a magic crystal ball that shows the market trend, even TA wont provide a clear cut answer what next trend is like but it provides important support/resistance levels and strength of trends to trade..
I urge all of you to not get panic seeing red and open posts to share the same.. We all are desperate at sometimes when market start falling but positive talks wont bring green to the market.. These are sentiments by the participants so can change instantly..
I repeat this; as a technical trader I’m bullish on taking opportunities but as a technical analyst I’m still evaluating the entire sentiment cycle which we’ve not yet seen to be bullish.. Ppl slowly unload counters they collect on red days and it causes the market to trade sideways or on a range bound.. Then as a investor, I’m not so bullish on the overall market but few counters where I can capitalize and collect slowly. The time frame for investment is 6-12 months and I can understand where some counters be after 6 months if ASI has bottomed out. Therefore; under that assumption I watch the market to stay above ASI 5500 and collect my favorites.
You should develop your own successful trading/investing strategies to succeed.
I've found few members open threads one after another asking and telling us the same thing.. First the tell us what to do.. Then they ask us what to do..
If market goes green, they start asking why the market is green and is it better to enter? if red they ask whether to sell and when will the green can be seen?
We should actually forget the index circled mentality and focus on the beaten down counters.
I believe best time to enter to a market is when its down and also when you have money in hand.. Its my way of thinking and pls don’t try to counter argue on that.. I respect every one’s strategies hence I believe there are well versed strategies which are tested, refined and retested and nearly perfected over the years.. So lets share some of these for the mutual benefit.
Nobody become millionaires without a bit of digging into the market behaviors, do some trial and error trades, etc.. Luck can sometimes bring you there but you cant sustain if you don’t have an average knowledge and experience in the market.. Best example is from a forum member who published a post that he earned a lot from BFL at the very beginning of his stock market carrier but later lost it due to some other wrong trades.. What we need to do is; take out the 'luck' part and try to survive with the tactics we can apply..