NQ. Markets recovering after morning sell-off.
I consistently struggle buying in on the run-up following a sell-off.
Yes, I can survive buying the second and third impulses, however, if I want to be the big boss someday this is something I need to learn.
I do have line breaks that allow me to buy in an objective fashion, however, I can't get rid of this feeling that price is going to go down forever.
Does anyone have any advice on how to rationalize buying in on the recovery early-on?
I will take some paper trades at the moment, but that isn't really a solution. I'm aware the emotions are the hardest part. Emotions are not present on the simulator no matter how you feel about that statement.
Yes, I can survive buying the second and third impulses, however, if I want to be the big boss someday this is something I need to learn.
I do have line breaks that allow me to buy in an objective fashion, however, I can't get rid of this feeling that price is going to go down forever.
Does anyone have any advice on how to rationalize buying in on the recovery early-on?
I will take some paper trades at the moment, but that isn't really a solution. I'm aware the emotions are the hardest part. Emotions are not present on the simulator no matter how you feel about that statement.
Comment:
If anyone is curious I got stopped on my first attempt (remember this is all paper trading at this point) losing 550, then I got back in around 1 PM, again with a buy, and made close to a grand. I lost 3 trades on RTY, ES, NQ, costing me 1500. Then I won 3 trades on NQ, ES, and RTY netting me +1400. Reminder this is just paper money. I am not as bold on my live account, not even close.