I’ve been feeling a lot of uncertainty in my trading decisions lately and I don’t trust my judgment on whether the charts signal a bullish or bearish market.
It’s wise to let the waves unfold a bit more. Personally, I lean towards a general bullish outlook, but the Aussie might show weakness in the next 24-48 hours. Good luck!
Colton said:
It’s wise to let the waves unfold a bit more. Personally, I lean towards a general bullish outlook, but the Aussie might show weakness in the next 24-48 hours. Good luck!
Thank you! 
Take a breather and lower your lot size to the minimum. It’s important to go slowly and get back on track.
Your post has been automatically removed due to mentions of Binary Options, which we do not support as they are typically not trading but betting products.
If you can’t interpret market profiles, you may want to hold off on trading for a while. It’s crucial to be reactive rather than predictive; have a plan and wait for market reactions before executing trades.
@Remi
This is actually a paper trading account; I haven’t fully started trading yet. I generally understand market profiles but was seeking advice on which timeframe to focus on. Thanks for the input!
Yeah, this market has been tough for me too. I’m sitting out for a couple of weeks to let the news cycle pass.
Holt said:
Yeah, this market has been tough for me too. I’m sitting out for a couple of weeks to let the news cycle pass.
Haha, I might just focus on backtesting for a while.
I believe the market will likely rise to liquidate positions before hitting a new low. It’s playing a game, waiting for buyers at perceived dips.
Your trades should rely on data-driven strategies rather than confidence. Follow the market instead of predicting it.
Davin said:
Your trades should rely on data-driven strategies rather than confidence. Follow the market instead of predicting it.
Even with my strategy, I often feel uncertain. My main issue is deciding which timeframe to confirm bullish or bearish signals.
@Indra
The choice of timeframe should align with how frequently you can trade without it affecting your personal life. I’ve found success using 5m and 30m for entries and 4h for trend analysis. This allows me to trade 2-3 times a week. Adjust your lot size to manage risk more effectively.
@Davin
Thanks for the tips! I usually trade 3-4 times a week, still learning with paper trading since I’m too young for a real account. I just need to build my confidence as I’ve been getting confused with so many terms.
@Indra
Consider starting a demo account with a small amount and treat it like real money. This way, once you’re comfortable and have found a strategy, you can transition to a real account with the same amount. The trading psychology will be quite similar, and you can gradually grow your account from there. That’s how I started.