There is a very interesting thing that makes me a bit dilemma. Whenever I consider whether to look at an upward or downward trend in a trading cycle, things are always in the opposite direction. What is even more incredible is that when I want to abandon this transaction, the story is again It's the opposite direction.
1. Good speculators are always waiting, always patient. Waiting for the market to confirm their judgment
2. Don't completely trust your judgment until the market's performance confirms your opinion
I know exactly how that feels but you should know that if the market is going against you then there is probably something that you are doing wrong.
Until a few months ago I used to trade and make losses instead of profits because the market always used to go against my prediction.
Then I started learning analysis and started using stop losses on my trades. So far it has been beneficial and the most important thing is to be patient and let your orders execute.
Most often when put a buy or sell order we tend to put it based on emotions on not based on analysis.
Our buying and target price should be specific and by placing stop losses we can minimize the losses and find out where we are making mistakes.
The more mistakes we make the more we learn and at some point we start making the correct predictions and gain profits.
This is the turning point from where our profits and real trading experience starts.