November 8 (Wed): [Bollinger Bands] Nikkei 225 vs USD/JPY (Chit-chat: “Famous people are not necessarily genuine!”)
Good morning.
Yesterday I watched a YouTube video by a famous person who has published many books, talking about his investment method.
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Is there no consistency in what he’s saying?
To put it simply,
he was promoting a "contrarian" approach,
but he said, if the market reverses, enter...
The method to identify that reversal is
if there is a larger rally (green) than the previous pullback (yellow), you consider it a trend reversal, and if a large rally (green) appears, you can win by shorting!
That’s what it is...
So… what if the pullback is a “flat” in Elliott Wave terms
（Note: A-B-C waves form a flat. Generally, C is larger in magnitude than A。）
What would you do?
And despite promoting a contrarian approach, he says to short if the trend reverses…
Rather, isn’t it more of a trend-following approach?
The contrarian method I advocate is
not to wait to sell after a reversal in price, but
“Sell when it goes up, buy when it goes down.”
instead.
Famous person = not necessarily trustworthy, not guaranteed to make you money
Don’t assume that just because someone is famous, they’re safe or legitimate.
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