Thinking too much and trading
Today, I’m sad to say that I didn’t listen to my instinct when it came to trading. I was being too clever and thinking about what the market was doing.
Look at the chart below. The market had hit the pivot point the first time and retraced. It then moved upwards and this was the time where I got back home and look at the market… it had retraced off the pivot and some strong movement up again towards it. I was a littl reluctant to put on the long as the pivot point was so close again when I was thinking of my entry.. 10090 or so with the pivot being just 10 points away from that.
When it hit the pivot the second time, I expected some push downwards again and then it just popped! It shot up almost vertically, first stop the next pivot line R1. It hung around there for a few minutes before it shot up again.. as I write, it’s just hit 10190…
WOW, that was a quick 100 points there!
Unfortunately, it’s hindsight, they say trading is easy in hindsight and it is…. to even stand a chance as a trader, you just have to be pulling the trigger!
