Hi Everybody,
Well last week was a perfect example of the cyclical nature of trading, where we had a few hard days at the end of the prior week, then the first part of last week was brilliant with 3/4 days of good (and large) profits that was then followed by a much harder day on Friday. This is how the markets work in real-life, so should any of you been surprised that Friday was a hard day ? No, because it came after a few good, and very profitable days.
If you look at the 3min Charts on Friday you can see they were horrible, with most of the day being range bound in narrow and choppy swings. These days are very very hard to trade. But this is where armatures complain and say that the markets are impossible But then they do not understand that this comes on the back of a few brilliant days. This is what trading is all about, so as you all know about the cyclical nature of trading now, you should have have been anticipating a harder day so it should have some as no surprise.....
On days like this it is best to either look to bank profits quickly or at the very lease get your protective stop to break-even quicker. Either way, they are hard days to trade.
I would not be at all surprised to see a few more hard days, before the cycle gets back into the good and profitable part, maybe later this week.
Thanks, Steve
Well last week was a perfect example of the cyclical nature of trading, where we had a few hard days at the end of the prior week, then the first part of last week was brilliant with 3/4 days of good (and large) profits that was then followed by a much harder day on Friday. This is how the markets work in real-life, so should any of you been surprised that Friday was a hard day ? No, because it came after a few good, and very profitable days.
If you look at the 3min Charts on Friday you can see they were horrible, with most of the day being range bound in narrow and choppy swings. These days are very very hard to trade. But this is where armatures complain and say that the markets are impossible But then they do not understand that this comes on the back of a few brilliant days. This is what trading is all about, so as you all know about the cyclical nature of trading now, you should have have been anticipating a harder day so it should have some as no surprise.....
On days like this it is best to either look to bank profits quickly or at the very lease get your protective stop to break-even quicker. Either way, they are hard days to trade.
I would not be at all surprised to see a few more hard days, before the cycle gets back into the good and profitable part, maybe later this week.
Thanks, Steve
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