" In the case of a down-move like today, longs are saying “Well, I’ll hold just a little longer until we get a counter-swing up and then I’ll sell” while shorts are saying “I’ll stay out just until we get a good up-swing then I’ll get short.” The problem is, the upswing never comes and the downtrend is continued by the “slow ooze” of buyers throwing in the towel with shorts standing aside or saying “Gosh, I can’t take it any longer - I have to get short now.” We’re conditioned to wait for retracements to enter or exit and just can’t justify pulling the trading trigger on a new low. It beats everyone up.
Don’t beat yourself up if you lost money today. I keep saying it but it continues to be true: Capital Preservation is Your #1 Goal!"
