The most loathsome shibboleth in trading is the admonishment to "quote" -- Try not to think about things too much, just trade what you see. What does that mean anyway? In my view, it's nonsense wrapped in cliche sprinkled with horse manure. Making a judgment about entering or exiting a trade does not require us to shut down our thinking - please, really? If you think the fundamentals do not justify the price action, go ahead and think it. It's not as dangerous to think as many professional traders would have you believe.
My latest fundamental argument against the Euro rally was expressed in a short Euro/Australian Dollar trade. I entered last night after seeing some very frothy action in the pair. Picked an entry near the daily pivot (1.4900), and then exited peaceably near Support 2 (1.4750). I thought the Euro's rally was unjustified. I did not make a judgment based purely on the expectation that markets would come to their senses. Duh. Markets come to their senses? Are you kidding?
But this "trade what you see" is utterly incomprehensible. There is nothing to see. There is only judgment and the will to trade.
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