Ok, ill let you in on a really big trade set-up I use
Look at where the market was and look at where it is going, you can not break this rule under any circumstance!
Ok now that you did that.
Place a trade in the direction that it is going, this is where it gets hard, it is kind of like seeing the “forest through the trees”
After you place the trade, now I mean only after do you start to make money, this is where it get’s even harder to do.
You see we all want to be right and prove the market wrong, and say I got the bottom tick and this is a very scary thing to do
But we will risk everything to do it so we can justify our hard work and time we spent studying the markets and if you do actually get the bottom tick, it will be nothing more than (POSITIVE RE-ENFORCEMENT OF DESTRUCTIVE BEHAVIOR)
DON’T WORRY YOUR NOT ALONE.
The sad part of this is that it is a terminal disease traders never recover from, trying to catch a top or bottom in any market or stock will ultimately end up in ruin for all traders,
please understand THIS IS A LOSERS GAME, in fact it has nothing to do with trading at all it has do with our Lack of self worth and our own perception of how we judge ourselves, we want to be right more than we want to make money.
So when you are trying to call market tops or bottoms take a moment of pause to “THINK” why am I doing this, is it to make money ? or prove something to myself or someone else.