” There is only one side of the market and it is not the bull side or the bear side, but the right side
.” – Jesse Livermore
Be a bear in a bull market.
Keep shorting a bull market and see what happens. LOSSES.
Wait for a deep pull back that never comes as the market goes higher and higher each day. Then chase at the end of the move.
Buy puts and sell them for a loss over and over.
Keep betting on a market meltdown as the indexes make all time highs over and over again.
Buy ABC ,XYZ and see what happens. LOSSES.
If your trading plan is the “the market just can’t go higher” you’re going to have a bad time.
Short in the hole right at resistance. The bounces are brutal.
Have a bearish opinion, keep a bearish opinion, trade a bearish opinion.
Being a stubborn perma-bull instead of a flexible trader.
This information is accurate and needs to be revised by traders very often till they come to a better trader level . In a bull market it is the tendency of technical traders to look into price levels of lifetime highs of scripts or indexes and do shorting which eventually leads to less than 50% of breakeven(the average price of shorted) . Even I have experienced this earlier . This is called Egotized Trading which one should come out and can watch the market . The main reason here is market gaps up in bull market and as a technical trader they do not get the right entry level for trading . Because of this reason mainly the trader thinks that he can short and gap has to be filled up soon . There is no hard and fast rule that all gaps have to be filled up ; There are gaps which need not be filled and market can continue in uptrend .
Writing an everyday journal ONLY will help to come out of ego in trading , this is from my experience
Thanks All for your valuable Inputs !!
Real one sir…..
Right. This advice reemphasise to have a trading plan and egoless attitude and flexibility in approach, as you always advise.Thanks.
What you said is 100% right sir……
Very good point and must need to implement in our day to day trading plan and change attitude and need to be flexible
Thank you very much