Hello there,
Using a simulator, I have understood what I am doing wrong in my trading.
After several days of pulling my hair I have realized that it is the mistake everyone does in the beginning of their tradingcareer.
It is trading COUNTER-TREND and HAVING AN OVERCONFIDENCE; and by that I mean that we newbies think we can catch EVERY SINGLE MOVE.
Even the 15 pips correction before the 150 pips move back in trend again.
And as always, time tells if we are right or wrong. And in my case, WRONG.
Now, I have been searching allot and reading quite many books (right now I'm reading Martin Pring on price patterns) but as always, nothing gives you more of the "right view" than asking direct questions and trying it (i.e EXPERIENCE).
Now I have looked at several charts to have my "aha"-moment which I fail to have every single time. And when I try it live, what seems to occur is that when we have that "from left to right" the market tends to change it's direction. It is too clear that the market is in a bull trend.
What I am trying to say is this:
I see a market. It is making higher highs and higher lows. So I believe it's in an uptrend. Immediately when I enter the market to go long. It reverses.
Now the hard thing for me to understand is when it is a reversal or retracement. As I see it, the only way to know it is when it actually starts trending again, or deviates from the trend and starts a new one.
Now I only trade naked. By that I mean a chart, trendlines, and candlesticks. Nothing more.
What am I missing now, or what have I missunderstood? I simply cannot grasp this "trend" concept.
Thank you for taking time. I apologise if the English is incorrect or misleading.
Using a simulator, I have understood what I am doing wrong in my trading.
After several days of pulling my hair I have realized that it is the mistake everyone does in the beginning of their tradingcareer.
It is trading COUNTER-TREND and HAVING AN OVERCONFIDENCE; and by that I mean that we newbies think we can catch EVERY SINGLE MOVE.
Even the 15 pips correction before the 150 pips move back in trend again.
And as always, time tells if we are right or wrong. And in my case, WRONG.
Now, I have been searching allot and reading quite many books (right now I'm reading Martin Pring on price patterns) but as always, nothing gives you more of the "right view" than asking direct questions and trying it (i.e EXPERIENCE).
Now I have looked at several charts to have my "aha"-moment which I fail to have every single time. And when I try it live, what seems to occur is that when we have that "from left to right" the market tends to change it's direction. It is too clear that the market is in a bull trend.
What I am trying to say is this:
I see a market. It is making higher highs and higher lows. So I believe it's in an uptrend. Immediately when I enter the market to go long. It reverses.
Now the hard thing for me to understand is when it is a reversal or retracement. As I see it, the only way to know it is when it actually starts trending again, or deviates from the trend and starts a new one.
Now I only trade naked. By that I mean a chart, trendlines, and candlesticks. Nothing more.
What am I missing now, or what have I missunderstood? I simply cannot grasp this "trend" concept.
Thank you for taking time. I apologise if the English is incorrect or misleading.