After completing the five day sell-off, traders are wanting to know when to get short again.
My advice: Don’t get ahead of the market – don’t try and predict when it will turn lower again.
Just let it do it on its own, and then it will be your job to react to the next sell-off, if it happens again here soon.
The initial reaction following the FOMC statement has been a bit muted, so there isn’t much to glean from there.
Like I said, let the price action come to you, don’t chase it, don’t predict it, just follow it.
Here’s the list of bearish trade setups:
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Refusing to take a loss when the trade has turned, and the reason for getting into the trade in the first place is no longer valid, is one of the biggest problems traders face. In this video, Ryan Mallory discusses the pitfalls that comes with refusing to take the loss and instead opting to become a bagholder on one's trades.
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