When confusion takes over..

Discussion in 'Trading' started by DaveCee, Oct 7, 2011.

  1. DaveCee


    Hello fellow trader,
    as you can see from my amount of posts, Im fairly new on this board and so into day trading. Although I've been investing in stocks/penny stock for over 5 years, I've been diggin into daytrading for the last 2 years. What I mean by diggin is that I pretty much learn everything by myself and put alot of commitement, effort and a countless number of hours into it. Learning the basics, reading books, learning the indicators and their behaviours, patterns and the whole shabang.

    So after losing my first 1K 2 yea rs ago, thinking that daytrading was a piece of cake, I soon realized that there was alot more to it. So Ive been trading for two years on a paper account. I must say Ive been doing good! Especially on Scalping method on an ActiveTrading platform(NT). So I thaught I had it pretty good until I decided to try something else and go more technical....Metatrader... and got to it right away....And thats where I seem to forget everything that I've learned in the last years. It's almost as if I didnt know what I was doing anymore... get in!? Get Out!? Hold it!? Close it!? Don't get me wrong here.... I can easily see my trends and S/R , pivots...but it's like almost every decision I take, I'd say 3 outta 5 end up being loss... either getting stopped or a Reversal happens so I close.

    As for my setup, there was a time where I had, I find, too many indicators at the same time. I had my Bollinger or Keltner along with my ADX, STO, CCI, RSI etc ... and it became alot more confusing then anything else....

    So recently I been opting for a more purist setup. Using SMA 5/10/50 +1Shift , kept the STO and CCi ..but added the volume indicator!!!

    Thats where it hit me! I mean I know volume means alot in market (duh XD) but now that Im paying alot more attention to my Volume indic. It's almost like it confuses me more then ever and leads to take bad decisions... perhaps my interpretation of the volume indicator versus price action is wrong... Green Volume bars Higher price Red volume bar Lower price... but also... Green volume bars loweer price and red volume bar higher price!

    WTH is wrong with me!? Thats why Im takin a minute here today to post somthing! Hoping that maybe a generous fellow trader could enlighten me up a bit and maybe point me out a couple thing that I could have missed in my setup!

    Help me finish this week on a good note! :) I been banging my head on that screen the entire week!... I think I dont need to tell you how frustating that is!!! ;)

    Thank you very much and good trading and week end to you!