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member588978

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Traders over-estimate the danger of a reversal when they are following a uptrend. Reversals from trend to opposite trend are rare. From the fundamental point of view, most bad news emerges during downtrends, most good news emerges during uptrends.

The fear can get so bad that traders convince themselves that, seeing a trend from one side of their screen to the other, they now take the opposite view of the market and buy in an uptrend or sell in a downtrend. Sometimes they'll use almost-science to justify what they're doing, like Fibonacci levels or various wave theories.

But the decision is still the same. They've enjoyed the uptrend like a hiker ascending a scenic great hill. They've climbed the hill since dawn and have just walked into a fog bank, the path higher is not visible. They convince themselves they're on the brink of a beautiful clear pool in a glen just below. So they throw off their backpack, strip down to their shorts and dive forward head-first............



>>>>But the decision is still the same. They've enjoyed the uptrend like a hiker ascending a scenic great hill. They've climbed the hill since dawn and have just walked into a fog bank, the path higher is not visible. They convince themselves they're on the brink of a beautiful clear pool in a glen just below. So they throw off their backpack, strip down to their shorts and dive forward head-first............ <<<<<<

:ROFLMAO: :ROFLMAO: :ROFLMAO: :ROFLMAO: :ROFLMAO: Johnny, is this the new you? You're adopting my poetry style? Now tht I know you're interested in this aspect of Fibo, I'll gift you some more now and then. Stay tuned, Johnny. :)


Where I will go the wind only knows, Heaven could be right round the bend
Full tank of gas, don't know where I'm going but where I was, wasn't it
Many a time woke up to find that I had almost lost the things I could never lose
Saved myself just shy of too late, then a milestone was carved
The beaches they sell to build their hotels, my fathers and I once knew
The ocean life and birds at dawn canbe heard singing the blues
 
 
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