Bulls better cash out their chips while there's still money in the casino! I shall use their tears to sweeten my tea and their pride to butter my biscuit.
(Not financial advice)
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Volatility has awoken
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Hot Damn...I think I might be right. Double tops spotted on NDX and SPX 1-5 min charts.
@psx13372, RSI is low only on lower time frame. It be overbought on monthly, weekly and daily. This almost alway be case before big correction. I have been short since ES open.
though market seems to always go up just when you think bear market is coming. But bear market need to happens at some time.
@PuckBunny, agreed. Literally just last Friday I posted a chart saying how depressed I was that vol has not woken up and the market just kept pushing higher.
I didn't even eat lunch, like I was pretty bummed out. Got to get better at taking a step back and recognizing that your emotions are competing against you to get you to quit.
Whenever I feel despair is usually when I should buy.
Whenever I feel like I don't care and I'll just hold because it'll go back up eventually, is usually when I should sell because the floor is about to drop out from underneath.
UnknownUnicorn11430563
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@Evdog9000, I used to be like the same thing. If I had bad day I couldn’t sleep all night. I’d miss meals, and get cranky with people. I realized my reason was I was making to big a risk. I kept lowering my risk per trade until I find that I can still sleep at night and be happy. So now I only risk 2-3% per trade. Occasional 5%. These are the numbers I can literally sleep at night. Maybe you find you’re own trigger that make you fret about trades. For me it was risk. I’m glad you share this story. You are not alone. Also truth is if I have a bad day I still get angry, but I move on much better and don’t revenge trade anymore. So yes I get angry, but at least I sleep now and don’t do dumb things after a loss. Lol
MonetaryRebel
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@PuckBunny, Thanks for sharing your experience cause I think you're right about the risk level.
I'm trying to be better about taking profits along the way. I used to get caught up with buying things at the lowest price, but then it's like who cares as long as you end up with more shares at the end to sell. This is such an emotional game.
psx13372
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@PuckBunny, Thanks! YEah I Was only looking from 15 mins to 1 hour.
UnknownUnicorn11430563
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@psx13372, lol. I've been there, done that. probably will again :)