I've been trading for 5 years......and I still sometimes buy into 'FOMO' big green candles!
Occasionally, it works but often not....you need to quickly bail out as soon as your position turns into a loss, I find.
Now, I really only try to buy at 'the prefect moment', or not at all!......otherwise the odds of a reversal below your buy in price are very high.
Perfect moments for me are:
- end of a triangle pattern
- very tight b-bands
- ema cross-over
- ema lines coming close but then moving apart
- MACD turing green
😀
Thank you for the insightful words Mr. Snow... :)
I understood at least the first 2 paragraphs, but the perfect moment list made my brain go BOOM! ^u^