Hi everyone so I tend to favor looking at the 4-hour and 1 hour charts since they seem to capture trend and structure levels quite nicely only thing is I never know when to enter and I’ve been looking at a number of things to incorporate into my analysis from moving averages, to Fibonacci sequences, structure levels, to candlestick and price action patterns I’m always worried if the trend I’m about to enter in is going to reverse or price is going to correct and stop me out and then price will continue in my original direction I can’t tell you how many times that’s happened and I don’t want to give up I really don’t an interesting thing I’ve found out recently is that the banks and institutions are usually on the other side of price meaning if retail traders are going long their going short and vice versa should this be the direction I should be heading in learning how the banks trade and develop strategies that align with market cycles and supply and demand zones I just really want to get to a point where I don’t have to worry about which way price is going or not going but just being able to have confidence in my analysis
Your stops could be too tight, set in the wrong place or your analysis could be wrong. Then again losses are a part of trading so it could be a normal variant of your strategy. Maybe if you give an example of a trade you took or are looking at so people can give you specific advice.
In terms of wanting to understand everything. I’m a big believer of building knowledge so yeah go for it. Learn everything you can and you might find a new strategy which suits you better and is more profitable. Or you might not but atleast you’ll have more confidence in your analysis/ strategy. Everything’s locked down, so go for it!
You’ve got a long way to go with regard to understanding banks–but you don’t have to understand that to succeed. If you have a strategy with an edge and you size correctly; and you have asymmetric returns you will be fine.
I see a lot of great simple strategies on forums but majority of the failure point is on sizing and psychology. I believe I’m in the final stages of ironing out my psychology. My wife told me yesterday that I’m completely different–every time she thinks I would get emotional about something, nothing happens. It takes time and a lot of mindfulness to get to this point, especially because when you think you’ve got it you discover a new issue.
Very possible , keep it simple and your profits will grow
Take a look at this thread linked below and apply the indicators as explained.
If you trade the 4H or 1H, that is, you execute your trades on these time frames, then consult the daily for your direction. Place the WMAs on all time frames and see the example in the thread below for how to make entries and where to place your SLs or where to exit.
The desire “to understand every little part of the market” is not the problem, but trading every little move is!
You have to become more selective. The less we trade, the better we perform.
Trends are the chart formation that promote most fear. Its universal but still hard to understand.