Trading different setups

Recently the market has been going down during the day. The 5dma is declining and in that environment most breakouts are failing,so it doesn’t make sense to trade them. To make money in this market i was looking for a different setup that seems to have a higher win rate.

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Because we have mixed messages (shorter term decline in a long term uptrend) i look for weakness,stabilisation and then small bounces for scalp trades,as long as the 5dma is not flat or rising. You cannot expect much out of this mkt as long as so many people are selling into any rally attempt. But shorting it with all the longer term moving averages rising is just not what i do. So my trading will be less frequent and i will close my positions more quickly until all the trends are pointing in the same direction again.

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About Schwarzdaytrades

I am a full time day trader. I like to share my opinion about stocks and the psychology of trading.
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