It happens. The method has been money up until this point. This is just one of those times where the market does not do what you thought it would. Nothing more, nothing less.
I will share some advice that was passed on to me. I stop trading at 9am PST. At that point, the moves that were going to make me money are over. At this time, the market usually consolidates until the Asian session, sometimes even longer.
Also, think about what you got into trading for. I know I've said it before but it's true. I can only tell you to think about it because I was the same way...trying to take every single signal that came my way. All this led to was me overtrading. That in return led to me becoming greedy and trying to make all the money in the history of this business. Bad connection those two things are!
If you work a fulltime job, think if you boss offered you overtime everyday after your shift ended. Would you accept? Probably not. You would maybe work some extra time but you have a life too right??? Treat trading like a job...that's exactly what it is. Pick a time that you will go to work. The signals that present themselves during that time, you take. Once your shift is over, go spend time with your family and enjoy life. The work at the office will be there the next day.
You will be amazed at what having a daily goal will do for you and your trading. If you have a compound calculator, start with just $500 and watch what compounding at just 2% daily will do to your money.
I will share some advice that was passed on to me. I stop trading at 9am PST. At that point, the moves that were going to make me money are over. At this time, the market usually consolidates until the Asian session, sometimes even longer.
Also, think about what you got into trading for. I know I've said it before but it's true. I can only tell you to think about it because I was the same way...trying to take every single signal that came my way. All this led to was me overtrading. That in return led to me becoming greedy and trying to make all the money in the history of this business. Bad connection those two things are!
If you work a fulltime job, think if you boss offered you overtime everyday after your shift ended. Would you accept? Probably not. You would maybe work some extra time but you have a life too right??? Treat trading like a job...that's exactly what it is. Pick a time that you will go to work. The signals that present themselves during that time, you take. Once your shift is over, go spend time with your family and enjoy life. The work at the office will be there the next day.
You will be amazed at what having a daily goal will do for you and your trading. If you have a compound calculator, start with just $500 and watch what compounding at just 2% daily will do to your money.
Dislikedgot stopped out
not right time of day?
stop too close?
no real trend action, more of consolidation pattern?
price action hovering around the 200ema.
the original sell signal is now repainting to buy.
will be interesting to see if the downside resumes and then the signal repaints again to sell.
Glad this still just the demo...Ignored