there is just way too much volatility, I really am dizzy. I have been trading stocks, but this is just something, and this really makes my stomach churn. Its up the previous day then down the next day, then up again the previous day. Its like a roller coaster ride.
I am thinking about quitting. Please help me and motivate me that this is normal. :(
try using higher or lower timeframe charts, something such as 1m will definitely show alot of back and forth, if your getting this on a daily chart then either look for the overall trend, it is possible for days to go down 200 pips then the next day up 100 then down another 200 but the overall trade would be down. if that isnt the case then your probably looking at a ranging market which is perfectly normal
If your starting to loose alot of money all I can say is slow down and trade much much smaller lots. You need tme to get used to different market conditions. For the moment you just need to survive without blowing up your account.
But I think you definitely need to trade smaller lots if you get dizzy with worry over them.
well if its demo then dont worry, if its live maybe try demo again or simply trade smaller lots til it doesnt bother you anymore, also thats a sign that your not fully accepting risk. which is a problem. you should view trades as your spending x amount of money to make y amount of money, once you enter your trade you lose x and you have a z% chance of getting y amount of money. for instance. i have a 30 pip SL 60 pip TP and a 75% win so i spend 30 pips for a 75% chance to make 60 pips. this should help you understand risk and accept it. your always gonna have losing trades. the objective is to win more then you lose. also you can view it as probabilities and say, if i just lost a trade then i have more of a chance of winning next trade.
also if the markets are ranging look back on the charts or at a higher time frame to see where the trend was previously heading. the market makes continuations far more then it reverses. (on larger timeframs such as daily) so, chances are you are seeing a retracement
it helps reduce fear when looking at the market which leads to mistakes out of fear. you shouldnt fear the market, or have any fear when trading. you should already be prepared that your trade (lets say 30 1$ pips so 30$) will be a loser, its just part of trading. once you can reduce fear (and euphoria) youll be a much better trader. you need an unbiased mind, you cannot fear the market and you cannot be over confident or you will make simple mistakes
In a volatile market it can be advantageous to scan the timeframes for a point where that volatility turns into easily identified trends.
You say the market is up one day, down the next, to me that means that the market was trending up for one day, then trended down the next. Which means if I was trading intraday timeframes, I would’ve had no problems finding some excellent entries.
Remember that price action is fractal, and you might have to adapt your trading methods as volatility changes, or at least know when to stay out of the market. Hope this helps:)
It is the way how the market goes. If it is steady, no one wins and no one losses. You just have to know when it will be up, then sell quick. When it will be down, buy quick.