Buy Signal Likely; Thoughts on Livermore
After yesterday’s solid selling, my current RSI(4)-based strategy has me going long on any close above 143.55 today:
On another note, Ugly has a post from a few days back called Jesse Livermore is a bad role model for traders. Some interesting discussion in the comments (of course I had to put in my 2c) relating to trading, and more importantly, to depression. Clinically depressed and Bipolar people are often drawn to trading, and it destroys many of them unless they learn to use it as a tool (a mirror, as I’ve discussed before), and not a way to try to “succeed” when what they view as their “failure” is actually coming from the inside.
Cheers. Let’s make some money.