Forget Your Opinions – Forget the Hype

 

Date: 11/7/2022
Author: Chris Hood

 

 


Bear markets highlight fear and greed like no other time.

Like back in the 2008 Financial Crisis, analysts aren’t shy about making bold predictions.

And if you aren’t a financial guru, it’s hard to know who to listen to. How does a non-expert make decisions when the experts disagree?

Consider this.

You have a severe illness and want to make major decisions about your treatment.

The first doctor says your situation is hopeless.

So you go for a second opinion, and the next one says with certainty that the worst is over and you’ll be fine in a few weeks.

You repeat the process, getting ever more conflicting opinions.

Some give you just months to live, while others can’t find anything wrong.

Who’s opinion do you take?


 

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That analogy may be a stretch. Your health is much more important than money.

However, losing all your money could definitely make you ill.

I don’t pretend to know which way the markets are headed in the long term. Nor will I ever try to predict a bottom.

To do so would be me trying to impose my opinions on the market – and that’s dangerous.

The market will do what it likes and doesn’t care about your opinion.

Try your best to ignore the hype and stay market agnostic.

In TRADECOMMAND’s live trading room, this is how we operate. We don’t predict; we respond to price action.

If my Power Trend and Alpha Waves indicators say go long, that’s what I do.

When a short signal prints, then I become a bear.

Our options trades are quick, and I used them to close out five winners on SPX Friday with only a single small loss.

You don’t need to know where the market will be in 6 months to make money now.

Intra-day and overnight trades have kept us profitable despite the sudden rallies and drops. The key right now is speed.

These volatile days with lots of two-sided action make it a target-rich environment for my tools.

But following my general rules and responding to the signals are even more critical than usual. I hope many of you will trade live with Corey and me to see exactly what I mean.

However, if you’re going on your own, keep this in mind.

You cannot make money in a market like this without a proven system and a strict plan. Bear markets are unforgiving.

Sloppy trading in this environment will leave you penniless.

If you aren’t going to trade with us, please trade carefully.

 

Cheers,

Chris Hood.


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