<https://community.ig.com/forums/topic/742-turtle-soup-anyone/#comment-8892>
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"Some really great lessons in there ﻿ and the relayed article embedded in the initial tradeciety article on FOMO (or Fear of missing out) traders is a great lesson too.  Typically people who get caught out this way are either late entrants or just getting too greedy in my view.  If you are a long term or swing traders hopefully you identified the trend early and entered early and are ready to bank profits around the time of a bull/bear squeeze.  If you have a good set of risk management rules, especially as regards use of stops, then any entry would not cause too much trouble (better to avoid it though).  One of the reasons I use EWT among other techniques is to identify when a trend is likely to be coming to an end.  It is always a gamble to jump onto a sudden move, especially at the break of a previous high or low unless it fits absolutely your longer term set up.  Much better to seek the dips and rallies and buy/sell into them.  In the past when I got caught like this is was usually when I was down in the weeds and trying to predict the actual turn.  2 good things to remember to avoid this is to take a regular look at higher time frame charts to out your trading time frame into context and to wait for confirmation as the Tradeciety folks say.  I add to this now the 20 period SMA idea, which is a good additional piece of info. \n  \n  \n"
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