Let's say you analyze the charts, you make a call, and place a trade with a certain time horizon. How do you avoid getting 'shaken out' in the short term?
I'm finding my calls are right, way more than 50% of the time, but I'm not as profitable a trader as I should be, because it seems more often than not, there's either a dump out, the chart starts to look like it's turning bearish and I begin to lose confidence in my calls. Then I might set a stop loss and there's a shake-out, it eats through my order, then the trend turns around and basically does exactly what I had originally called. Or if it starts dumping I might panic sell.
I'm typically more profitable if I do not even look at the chart, like at all, after making my buy. Not sure that's good either.
What do you recommend in this case?
I'm also thinking, if I had a read that the price was going to fall short term before the long, then I could get a better entry, but it almost always takes me by surprise. Is it whales that are swinging their whale dicks, that do that (and thus why I don't see it lining up that way), or is it just me?
Any feedback welcome.
Just set aside your emotion because if you got carried away that is the time you'll get panic and lose everything that is why you must control as much as possible. The next thing to do is to have a plan and you gotta stick to it. There could times that your plan will not work but that is okay there will be a lot of opportunities ahead besides, it is normal in this market due to the fact it was volatile. Just don't be greedy and don't panic. Better to set a stop loss and make a target price to sell. And once you set your targets you don't need to watch the market all the time 'cause there's a chance that it would create uncertainty or confusion that could cause a panic.