A good piece of insight recently shared with me from an old pro with 30 years trading experience:
“I guess most readers are familiar on some level with the sport of hunting. I am sometimes amused by the new outdoor channels portrayal of the sport of hunting. Jackie Bushman has a nationally syndicated show from Alabama that weekly portrays the harvesting of trophy bucks. A buck is a male deer for you who are somewhat challenged in the sport of hunting. Almost every week a trophy animal is harvested on the Bushman show. To the novice deer hunting appears to be simple and effortless. Of course what the cameras and most certainly the promoters never reveal is the countless hours of scouting for trophy deer that go into the eventual production of the show. So what’s my point and how does all this relate to trading. Sometimes in trading there just aren’t many trophies to be found – a trophy in the sense being a trending market. These times separate the great traders from the not so great traders. Over my 30 plus year career I have witnessed numerous “times like these”. The good news is that they don’t last forever and my bet is things are about to change. Trend followers have had a pretty tough time lately but tough times don’t last but tough people do. The next question I often receive is “where is the next great trading opportunity?” Not to be a wise ass but if I really knew that I probably would not be sending this to you today. Well I might because this is fun for me and I hope educational for you. I enjoy teaching almost as much as trading. Trust me on this there are some very big trades coming and with hard work and patience you can catch them just like a real trophy deer hunter does.”
Don’t take his last sentence as a prediction, it’s not. He is simply pointing out the reality of trends.