Right Prediction on Direction...

Hello traders, I'm having an issue and I'm wondering if anyone is having the same issue and what to do about it. I have one setup that I trade...it usually goes the way that I predict when I see it. My problem is that I can predict the right direction of the market sometimes and I'm still losing money.

I'm not sure if it was the volatility from the election week but I just kept getting stopped out. Or, sometimes, I'll notice the trend started and at the moment that I enter, it retraces. Finally, when I've had enough and close the position, then it immediately continues the trend. This happens to anyone? What do you do?

It means you have shitty entries and needs to work on volume analysis.

It happens,all you need to do is to have believe in your analysis.

First you must check if if you entering on minor retracement or Support/ resistance.
Check market Pattern
Ask yourself why you entering
I like the fact that that you know direction mostly
Don't widen your TP JUST PLACE IT AS MUCH AS 400 TO 600 POINTS
Youre day trader remember
Don't fight market

What do you mean, specifically, when you say volume analysis? I agree that my entries must be off. It's just that when you feel like you've missed the initial move and it has more to go, I just enter because I don't think that it will retrace back up

I think that might help...I will work on that. thank you

You might also check if your broker is playing games. Open a demo with the most reputable broker you can find and observe if the same occurs. If you have been getting consistently profitable then some brokers will mess with your trades - but try parallel entries on another broker. If same occurs, you have an entry problem - if not occuring you may have a broker problem - if your entries are good then maybe drop the SL altogether, but that depends on HOW you trade.

Oh, that's a really common development that's really often discussed and criticized by traders because it gets in the way of structured work and doesn't allow you to plan everything you needed. Plus, it can mislead you about your strategy choices and your performance in the market in general. I also don't think you should stay in such conditions, it makes no sense at all. The market is a place where you constantly face some kind of difficulties and if your broker gives you additional problems, then it's definitely not what you need. Comfort in this business is also important, so you shouldn't increase your risks just for nothing.

Well, you have to look at this situation from two angles.
On the one hand some unexpected price spike or ordinary speculation can really happen in the market and you can literally walk out of the market with a loss in a few seconds.
On the other hand, it can really be a certain provocation, artificially created by a brokerage company, so that traders lose profitable orders and money.
There is definitely a need to trace the statistics in order to check on the charts (of some independent resources) whether something like that really happened or it was done intentionally.
And if you find the second option - then you know exactly what you need to do. Look for something else and as soon as possible.

It depends on the timeframe selection, if you pick big timeframe for your directional analysis then you should leave the price some space to "breath" before you get out, or place your stops according that timeframe. You should know that bigger timeframes need more space.

Also target at least two times the pips you risk, so if, you pick right the most of the times then you will get break even, or lose less money from your capital in the worst case if, something change.

Also don't overtrade and make better analysis including all the costs using smaller timeframes for perfect entries. Example, you should trade only two times per day and stop after you achieve this number of trades in case you lose two times.

Looking at volatility can help you decide if, you use wider stops, but you can see what market you are trading, if its a ranging market then you should widen your stops some pips. A good strategy is first to wait for a fake out and then a continuation above/below the price you where asking in the first place.

It may take years until you lessen your costs, but if, you really want to do it then I am sure you can.