This video shows why the Dow Jones, S&P500 and Nasdaq etc. stock market indexes have topped out at current price levels and are almost certainly set to resume the bear market collapse as before.
I personally have always been very skeptical of this entire rally since March of 2009. Let us not forget (if we ever knew in the first place!) that in the Stock Market Crash of 1929, there was a very strong rally following the initial collapse that induced many investors to reinvest in the market, much to their cost as they were then wiped out completely in subsequent years as the index lost 95% of its value!
So, what's this story got to do with online trading, you might ask? Well, nothing and everything!
The fact is, it's a very good life lesson. Many traders trade like this – absolutely certain that what they are doing is right, and MUST be right because it's them doing it. And that's totally irrespective of what the markets are plainly telling them!
We get negative feedback from the market, e.g. it moves against our position. So what happens? Instead of having a stop that gets hit and takes us out for minimal loss, we have no stop at all. Or worse still, we actually ADD to the position. That's kind of like saying to the market, "You IDIOT!"
I took off a losing Dow Jones stock index trade yesterday.
That’s not a big deal. After all, you win some, you lose some.
Maybe I should say, I FINALLY took off a losing trade. It’s one of those things. You learn something. You know it. You even teach it to others. And sometimes, you let your discipline slacken and don’t do it yourself!
Thinking foreign exchange – Stuff
Having indulged myself in a feel good story in these bleak times and found that none are too interested, I will now revert to a vexed business issue. Managing foreign exchange risk. Sadly many small businesses do not even think about FX risks, and
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…the Dow Jones shows major support from a long-term trendline going all the way back to the low of 1987 following the Stock Market Crash. THIS is why the stock markets have been rallying of late and for no other reason….