Today I found the last hour or so difficult to trade. When the S&P was testing the 2089 area and it failed to go down, after that I thought it was either going to retrace further to a fibo level of 50% to about 2085.75, and the either go back up or continue to the 62% level, which it did. Those where good sim trades for me, but then I thought, the market is going to either continue lower to the 2081 pivot support or go back up. I am only sim trading by the way.
Well, at first it seemed to building a support area at the 62% retracement, so I covered, then it seemed to be rolling over again, this was at 15:56 time. That bar seemed to indicate a bearish rollover, I felt confident so I sold there, but suddenly the market just said nope, I'm going up again, and it made a small rally to the last area between 2086 and 2087.50. If you check the bar at 15:56 and the one following this one you will notice. I found that to be odd and very difficult, I went from a small profit to a bigger loss. Anyone else found this difficult? What could I do to prevent this, what are the signs the market will not go with a rollover and move on the opposite direction? The change in momentum seemed to happen very fast, in a matter of seconds the price went from 2084 to about 2086.
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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