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| An overview & with no intent to offend anyone & there might well be some seasoned traders who will disagree with me but I only relate my past experience in wild markets.
The 1st worst reason to enter a market, at these price levels, is "to get even (financially)."
The 2nd worst reason to enter a market, at these price levels, is because you sold crop at lower levels.
Timing is everything. We are at price levels where the risk is exceptionally high. Option costs, because of the volatility are expensive.
Over the years, in bull or bear markets, a large number of people, when I was in business, would call when the move was nearly complete & when I heard them say, "I sold too early, I need to get even." It was most always a receipe for disaster.
Like anything else, if the position was not bought right, or sold right, so there is a cushion OF PROFIT-OTHER PEOPLE'S MONEY, the risk is simply too high.
We are at a price level where this market now needs to prove itself. If it can survive that, then you can have some confidence in entering the market.
Most of the very successful professional traders I used to know, if they missed a move, or were fighting the emotion to re-enter a market having already made a move, simply quit trading for awhile. Clear their heads. THERE IS ALWAYS OPPORTUNITY ...& if this maket is in a wide swinging trading range, it can eat you alive if you don't treat it like a trading range & just trade it for small amounts; if it corrects, or just consolidates at these levels and ABSORBS SOME BEARISH NEWS AND STILL RETAINS IT'S COMPOSURE, then maybe it is ready for one more leg up.
When you get bullish or bearish in a consolidating trading market & get whipsawed a few times..you lose your entire perspective and unfortunately can find yourself selling when you should be buying & vice-versa.
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Some thoughts.
