"The market's behavior can be defined as the collective action of individuals acting in their own self-interest to profit from future price movement while simultaneously creating that movement as an expression of their beliefs about the future." Mark Douglas
We've all heard about the herd.
We've heard "the herd is usually wrong" i.e. fade the herd.
We've heard "even if the herd is wrong their direction creates opportunity" i.e. trade the herd.
FADE THE HERD?
TRADE THE HERD?
OH ME! OH MY!
WHAT'S A TRADER TO DO?
If you truly ponder Mark's statement you might arrive at this conclusion - Neither.
Welcome to "Lone Wolf Trading".
more to follow...
Futures & Options Broker