Very powerful training session this morning. One point that hit home is we must trade with the trend. Fighting the trend is like swimming upstream in a swift river.
The question all investors need to answer for themselves is this: Which trend do I want to follow? Short-, intermediate- or long-term trend?
Steve showed us how to use the 5-day moving average and the price channel as stops in the current intermediate trend, and how the 5-day gives us a great exit point during the initial phase of this intermediate advance. The price channel will give us more lattitude when the short-term cycle chop begins.
