Quote from luckylucy:
The trading hour ends to me. I had recorded my thoughts honestly when the market moved. I believe how one sees the market making whom he will be. I am a consistent loser, there must be something wrong with my thinking routine. Wish to get help from others.
I make mistakes in the following situation:
1) trading on the range and betting on the direction. There might be nothing wrong with it. The ranges works as the retracement , or reverse. Most of time, they take places around pivot points. However,I always bet on the wrong side.
2)trading on the fake breakout. Usually happens after a fast move breaking some important level.
There must be some other problems. I am so sick of losing and will do anything to change it !
There was a link I saw awhile back that described statistics on market behavior. Going from memory, the market breaks out and trends around 33% of the time.. Which means most of the time its chop.
Also remember that most traders lose money (b/c they are trading the sexy breakout, etc)
So why not look at long term S/R and fade that? Trade that on a simulator, and see if it doesnt make more sense.