Market Update - 11/3/2024
Just follow your rules and not trade! That's what I should have been doing. But well, since I'm a bit addicted to trading and have a fear of missing trades, I'm acting on every signal which is costing me money.
Overall not much to talk about as the market is quite weak, lots of failed setups, reversals, breadth is the worst in a while. Lots of earnings coming up next week, as well as elections, so things could also turn around very quickly. Usually the best buying opportunities are also during these times, so need to be vigilant with setups and market action. For now, I'm 90% cash and just waiting. If any of thesetups for next week break out, I will only put on a very small risk, maybe 0.25% of my account. Want to remain cautious until we get a strong bullish signal.
My worry is that once that bullish signal comes, I won't be going aggressive enough. Then as the market continues higher and it broadens out, I become more and more invested, exactly doing the opposite of what I should be doing: plunge in at the beginning of trends and peel off as the market goes higher. It's a tough lesson to learn and takes a lot of experience.
Overall not much to talk about as the market is quite weak, lots of failed setups, reversals, breadth is the worst in a while. Lots of earnings coming up next week, as well as elections, so things could also turn around very quickly. Usually the best buying opportunities are also during these times, so need to be vigilant with setups and market action. For now, I'm 90% cash and just waiting. If any of thesetups for next week break out, I will only put on a very small risk, maybe 0.25% of my account. Want to remain cautious until we get a strong bullish signal.
My worry is that once that bullish signal comes, I won't be going aggressive enough. Then as the market continues higher and it broadens out, I become more and more invested, exactly doing the opposite of what I should be doing: plunge in at the beginning of trends and peel off as the market goes higher. It's a tough lesson to learn and takes a lot of experience.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.