Many traders do not really understand how important this is, if you go against the trend the chances of failure in trading is high. This is why identifying the trend for the day is one of the most important aspects of trading and it should be something that every new trader should do before choosing or making trending decisions. Identifying the trend should be simple, just find the Higher highs and higher lows, or the lower highs and lower lows etc.
Going against the trend is not actually cool but for traders that have been in the market for quite sometime now are able to predict the market and win trades even when counter trading. This is only for professional traders with good risk management. As a novice, you’re liable to make more mistake while counter trading and will end up losing more money.
I lost some money, decided to chase the market to make it back.
Never chase your losses, you’ll lose your risk management and emotions which will lead you to blow up all your money. Traders chasing their losses are at highest tendency of losing their capital and exiting the market early, give up on trading so soon.
Because of the plan to flip my account, I was always in the market, looking for positions to take. Even on the weekends where trading is risky, and false moves can be much, I did not give myself a break.
It is true that when you’re funded, you’ll always want to trade and not wit patiently for the market to meet your set up but rather going after the market and executing trade when your set up is yet to be reached. This is a bad attitude towards trading and will make you liable to lose more.