AI
I never thought that that would be my biggest problem when it came to trading the markets.
Still trying to grasp the idea of watching for the signal and then buying at a higher price to confirm the move up.
And since I can't see the charts all day, if it breaks out above my signal too high by the time I see it, I don't want to chase.
That is why I am studying the "W" and "M" patterns more, they allow for an opportunity to by on a pullback. Especially when it lines up with the fibs.
Had several nice missed opportunities on XXII
My patterns even work on garbage stocks like TVIX if I would just stick to my rules of entry and exit. It generally only allows for a .15 risk per share on the W pattern. The W pattern is usually good for a scalp back up to the top of the W. Number 3 was a break out pattern with a calculated exit.
Bottom line is just what you said, I need to stop trying to pick and choose which ones I think will work and not, and just trade them and take the good with the bad. Yes, I hate losing. LOL
I did sell my JNUG this morning for a few bucks. Thought it was going a bit higher, but don't trust gold right now. Thought we might see a rinse and repeat like the pattern in the blue box.
It looked like traders were covering their 1:2 risk/reward short position.
Still trying to grasp the idea of watching for the signal and then buying at a higher price to confirm the move up.
And since I can't see the charts all day, if it breaks out above my signal too high by the time I see it, I don't want to chase.
That is why I am studying the "W" and "M" patterns more, they allow for an opportunity to by on a pullback. Especially when it lines up with the fibs.
Had several nice missed opportunities on XXII
My patterns even work on garbage stocks like TVIX if I would just stick to my rules of entry and exit. It generally only allows for a .15 risk per share on the W pattern. The W pattern is usually good for a scalp back up to the top of the W. Number 3 was a break out pattern with a calculated exit.
Bottom line is just what you said, I need to stop trying to pick and choose which ones I think will work and not, and just trade them and take the good with the bad. Yes, I hate losing. LOL
I did sell my JNUG this morning for a few bucks. Thought it was going a bit higher, but don't trust gold right now. Thought we might see a rinse and repeat like the pattern in the blue box.
It looked like traders were covering their 1:2 risk/reward short position.
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