There is no pressure to trade every day and yes you are still a trader if you don’t trade every day. In other words, don’t try to see an opportunity where there is none.
In the last few days, we execute almost no trades, as you probably realize following our app notifications. One of the reasons is we don’t consider the current market prices a good entry point to trade. Our favorite index to trade S&P500 is at 3000 and shows some resistance around that area.
It is hard to get some good feeling about where the index will go from now. Buying long positions at that level could turn to very bad trade and block your capital for a long time. Shorting the index could be too soon. We still consider the trade tensions which are not over yet and we saw in the last few months from September 2019 up to now 18 Oct 2019, the index had a lot of ups and downs.
There is not always gonna be a perfect setup but there is no reason to force yourself all the time. There are days and weeks that just don’t offer good opportunities and you just have to accept that. Having believed systems or trying to find an opportunity where there is none because you feel forced to make money every day, will soon or later lead to disaster.
So what now? Passions! The opportunity will arrive! The right time will be defined by the market trend. We would not recommend you to jump on some market predictions too soon, better to wait for the new market trend and when it is there enter the market.