You can’t get down on yourself during times like these.
You’ve studied every “technical analysis” known to man, may it be “cycle theory” or “elliot wave” or “fib trading” whatever……yet things still aren’t lining up. You still can’t seem to “time this” and generate winning trades on a consistent basis well…….
You can’t get down on yourself during times like these.
Intraday charts currently look like they’re being created by a group of small children with a couple of boxes of crayons! A real mess to say the least, and hardly what I’d call “works of art”.
As traders you’ve got to learn to recognize when market “just aren’t behaving” in a rational manner, and adjust your trading accordingly. You can’t get down on yourself and throw into question everything you’ve work so hard to learn as..at times – It’s not you!
The market is at an inflection point. Period.
You need to step back. Keep yourself protected and learn from this….as you’ll be more than prepared for the next time.
Don’t let this thing get the best of you.
It’s important to recognize these are “unprecedented times”! Markets are nuts for a reason because for the most part……no one has a freakin clue what’s coming next. The entire thing “hangs in the balance” of Central Bank intervention and the realities of slowing global growth.
Not exactly an “ideal environment” for the new trader, in fact it’s a terrible environment for any trader! If you can’t step back and see the larger picture….then the “smaller pictures” will continue to confound. This is not a time to be “practicing”. This is not a time to be “taking chances”.
When I go fishing, I generally get up pretty early, but I don’t even bother loading the truck if it’s pissing down rain right? You don’t go “scuba diving” during a hurricane do you?
This is no different. Forest from the trees type stuff – you know.
Sunday’s weekly report on tap this weekend, as well the daily strategies, trading table and intraday commentary and trading full steam ahead. Check us out in the members area and take a break over the weekend. Next week promises to be a whopper.