The amateur Trader mistake …

Innervoice

Innervoice

One of the most common mistakes an amateur trader makes as well as experienced traders is getting caught up in pre market euphoria when the futures are up. Traders recklessly dive in pre market or at the open and usually get slammed..
Ignore the euphoria! Treat every day as the same and wait for a set up. Same holds for when the futured are falling.
 
Correct -- the initial move or even current price action may be irrelevant to the direction of the market later in the day.

Innervoice said:
One of the most common mistakes an amateur trader makes as well as experienced traders is getting caught up in pre market euphoria when the futures are up. Traders recklessly dive in pre market or at the open and usually get slammed..
Ignore the euphoria! Treat every day as the same and wait for a set up. Same holds for when the futured are falling.
More...
 
Innervoice said:
One of the most common mistakes an amateur trader makes as well as experienced traders is getting caught up in pre market euphoria when the futures are up. Traders recklessly dive in pre market or at the open and usually get slammed..
Ignore the euphoria! Treat every day as the same and wait for a set up. Same holds for when the futured are falling.
More...
%%
Exactly\
\its like the dark fossil fuels songs says\
i remember the well we drew water\
lived in Butcher holler/ coal miners daughter\
like a mail order catalog\
daddy made money selling a hawg[ [hog]:D:D.Best many times to sell a hog, not buy one LOL:D:D. Certain exceptions apply, a strong trend, or a super strong trend, that tends to go on much better than we figure, last hour proves it ;
may buy a bunch,+ scale in, but like they say in TX\no such thing as a kosher hog:caution::caution::caution::caution::caution::caution:,:caution::caution::caution:
 
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Innervoice said:
One of the most common mistakes an amateur trader makes as well as experienced traders is getting caught up in pre market euphoria when the futures are up. Traders recklessly dive in pre market or at the open and usually get slammed..
Ignore the euphoria! Treat every day as the same and wait for a set up. Same holds for when the futured are falling.
More...
When the market opens a lot higher and you are in an uptrend, the likelihood is that price will pullback after the open and then gather steam again throughout the day. ---When the market opens a lot higher and you are in a downtrend, then it generally follows that you can short that pop since it is in and of itself a retracement of the trend.
 
I wish whenever I put on a trade is like hoping onto a magic carpet. Rise and fall as we wish. But there is no such thing.
2-person-levitation-act-street-performer.jpg


If market, industry and stock trending up, then I put on a long position on a short-term basis.
 
You're right, it might be tempting to trade when the markets move wildly but one should stick to their guns.
Follow your trading plan.
 
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