Break of channel, market explodes to the upside
The market was looking extremely choppy when I got home.. the only thing I notice was that the market was in a trending channel.. you could have sold at the top of the channel and sold at the bottom of it for profits.
When the channel broke, if you had spotted it, you would have gone long and you would be laughing.. there was a heap of profits to be made. By the time this had happened, I had traded a few times and lost so had reach my limit… no more trading!!
I did trade on my spreadbet account when the price action broke the price channel and took profit at the first pullback which was nice. I went so much higher so once again, I left a lot on the table.
I also had spoken to my trading mentor earlier today and he said that he felt that I should remain on the simulator until I became more confident! I won’t be going live this week.. let’s hope I’ll go back onto the live account next week sometime!
