Here is the message I sent out to my newsletter subscribers an hour before the close so they could act within their portfolio should they choose to. If you’re interested in receiving free market timing alerts, along with other great features, the sign up box is to your right.
As frustrating as it can be when you use a trend based system, there are going to be whipsaws. There’s no need to wait until the end of the day to sell as I just closed out my short etf’s and will look to play the long side until the next signal. I should have used this morning’s weakness to exit, but I really wanted to stay true to my system and not jump the gun. Where would I be mentally if I exited near the open and the markets cratered? I would have been kicking myself for 2nd guessing my own system.
The key is to recognize when you’re system gave a false signal and exit without hesitation. Staying in a trade too long will cause you to lose money and confidence in yourself.
Beware the jobs numbers tomorrow as they are going to cause early trading to be very volatile.
