It is simple – but it is effective. Do not try to swim against the tide. Market knows best. So, no matter what is your current situation, never:
- Buy when the price is going down, no matter how low the price is
- Sell when the price is going up, no matter how high the price is
You can always wait another day and let the momentum run out. It is relevant today since I wanted to see if I can establish a long position in EWJ and EWZ. Both look good to me – but they are both down for the day at the moment. So – no trade today.
Vermeer, The Girl with the Pearl Earring
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