Great. Another 3-digit loss in DJ last nite. :-) From the intraday trend perspective, I would be only looking at SHORT for today. For Nikkei futures, MSCI Taiwan, and MSCI Singapore. This is trade setup. My job now is looking for entry and stop points. I hope the market doesn't run away without me.
I was reading Maxian.com yesterday. I got a feeling of being slapped on the face. I have been complicated my analysis unnecessary. The basic of trading should 'Buy it when it is going up, sell it when it is going down.' Though this statement is too loose in term of trading entry, it basically tells me, looking at bigger picture, looking at the trend, trade the direction of the market, as simple as that.
I quote a paragraph from Maoxian.com
'The wrong way to play it would be to attempt to "pick a bottom," or fade the market; blindly enter short without waiting for a good spot; getting short without setting a stop, etc. The list of errors goes on and on, but people mainly make those three big mistakes.
Traders who know themselves, who have common sense, who are disciplined, and who have the ability to keep it simple will do just fine. Remember that many people in the market are either uneducated or uninformed. And most of the few who are educated and informed waste their time building "scenarios" and end up defeating themselves by trying to outsmart the market. '
Trading should be simple. Really, it should be.
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