This was a tough month for many, the $RUT ended down 6% for the month and for the majority of the month we saw the SP500, DOW JONES, NASDAQ 100, NASDAQ all hover near 52 week highs while stocks underneath the surface were not participating, breadth was horrendous this month, we gave you the rundown here, these numbers only got worse.
In these type of markets people really get hurt and lose their confidence because they have not yet graduated to the stage where they realize and more importantly ACCEPT that their strategy will not work in all market conditions. What happens is that some over trade and get chopped up and others look for a new strategy or the next secret trading ingredient. They go from blog to blog, new idea to new idea, strategy to strategy, searching for a system that will only give them winners without experiencing any draw-downs. A system that will catch every rip and every down tick on the minute chart. This is especially the case after they go through a period in which they are struggling. And due to world wide web you will find endless information on so called “proprietary list”, “proprietary indicator”, “buy green sell red, we have never missed a bottom or a top”, etc… But until you realize that losing is part of the game, and that you are not going to make money day in and day out in all market conditions you will continue to search for the secret trading ingredient. However, thanks to my son Max your search is done, we found the secret ingredient.
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