Lesson 13

[Trader Question]

Will this situation be handled in a future lesson?

Can you do "buy pinging" in a down trending market when you hit support on focus and htp periods? Today was a prime example in the S & P of a good way to go bankrupt by pinging long with the market going straight down. I saw many buying opportunities at various supports today in this fast moving down market, but the market just kept going down.

I am on lesson 13 and repeat what I said before. Your course is wonderful. It makes so much sense to me to this point. I guess I shouldn't be watching the screen while studying, but it seemed to be a perfect example of pinging opportunities today, but you would have lost many times in a row.

Maybe there is an answer to this question in future lessons.

TJ

[pldot]

Yes, can be done, but, well, not such a hot ideas to ping against the trend in a strong trend run. A better use of pinging is to pick away at a market as you exit congestion. Exceptionally nimble traders could have traded against the trend yesterday, but I don't know why life needs to be that difficult.

Yes, there will be more on pinging in future lessons, we come back to it several times.