Today, I’m spreading my wings, and I’m taking off. I’ve told you before that I want to be American, and after a lot of faffing about and general procrastination the day has finally come. I’m saying goodbye to the stale, stagnant waters of home, packing my charts and leaving. Because really, after 4 years Australia has had its chance and it’s failed.
Bad luck, ASX. Goodbye, has-been resources. Goodbye, strongest banks in the world with 2 years of sidewaysness. Goodbye, limited opportunites….and hello, US markets!
So why the big change? Why am I discarding everything I’ve known and loved to abscond to the far reaches of the universe?
The Aussie 200
I’m kind of embarrassed I didn’t make the move ages ago – this is not a new state of affairs. And it could all change tomorrow, who knows?
But what I do know right now, today, is that our market is languishing. It’s tired, lethargic and the opportunities for my style of equity trading are few and far between.
What I also know that the US markets are making new highs, breaking resistance and basically flexing their muscles in a way that makes a trader girl sit up and pay attention.
You Trade Forex! Why Bother With Equities?
Equites are a unique beast. I love them. They complement my Forex strategy beautifully and because I trade them off a daily chart they provide diversification in both instrument and timeframe.
But the thing I like the most is that you just can’t beat them for trend-following. In a raging market they can just go nuts – and not only one or two of them, they all join in the party. Except for the odd party-pooper of course, but we’ll just ignore them as they don’t suit my purposes.
The thing is, if you want to follow trends you need a strong market, because a flat market for the most part equals flat trends and lots of party poopers.
Of course, that’s not to say there are no opportunities in the Aussie market, because there are. It’s just more likely that the few real go-ers will get dragged down by the weight of the overall market. It’s hard to be happy when everyone around you is depressed.
Trading is about probability and likelihood, and the fact is that there are more winners in a strong market – as the old adage goes, a rising tide lifts all boats.
Time for me to get aboard.
Did you know you can get Rogue Traderette posts sent direct to your in-box? Sign up for FREE here!
And if you really liked the post, please spread it around – the share buttons are right below.