The trade exploded upwards, and closed me out. Good thing is that I did not lose so much.
The spread is really taxing. Do not feel it is value for money. I think I will not be day trading with short period candles. But it gave me a good feel about how to trade price action.
What I learnt is that you need to find a market that is within a range, opposite of a trending one. That is also what Kathy Lien said, that you need to identify the market first. And what Nial said, he is a contrarion trader. So naturally, markets that are always moving up and down, bouncing off resistance/support zones will be relevant.
Guess that now I will be trading high time frames. And I have to have the mentality of a sniper. Even though trades come very rarely, once the chance comes, I better give a good shot at it. And of course, do it defensively, and now give all your nuclear arsenal when you see an opportunity. Take a good shot at it, but still keep some ammos in your pocket.
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