I guess the mindset of turning off from the noise of the news and concentrating only on the price action and sticking to your tested Trading system even when it doesn’t feel right. A good example would have been where I follow Jim Rickards, Bill Bonner, Jim Rogers and Peter Schiff where they’ve been warning about another stock market collapse due to an increasing US National debt and also escalating National Corporate and personal Debt to unsustainable level that cannot be paid back with current GDP growth rates yet the Stock indexes continue to rise or rather they where going up despite the warnings I’ve been reading the past couple of years.
Using a simple 30/50 Weekly average would have kept you in the trade during this period. I Personally moved out mostly of equities in my Private Pension Fund a year ago put a 20% allocation to physical gold. One of the issues with pension funds is if there is sudden crash the Fund manager can restrict exit from the fund for 6 months so you cant just easily pull your money if you see your chart reversing to the short side
I know this is a lot easier with spread trading but i wouldn’t have a large enough bank to trade over long periods at present. Most of my money goes into my pension. What i do in my pension fund is use the gone fishing portfolio strategy of re-balancing once a hear with my 20% allocation to each of cash, gold, bonds, commodities, equity and insight currency funds. So I’m selling a part of the funds that went up and buying more of the funds that have gone down and its been doing well. Lot of friends in work are all in equities and they brag about their big gains but they won’t sell either when the market turns thinking it will come back.
Hard to be a trend trader on one market alone.