Don't Short the Market Trading at All-Time-High
Money Never Sleeps. Money also knows whether market is weak or strong. Every trader is obsessed with understanding what the market will do next. I try to focus on 2 things alone:
Trigger, when the market might start moving with momentum in a direction.
Trigger, when that momentum has stopped and I have to get out.
For that purpose I have created two indicators which are proprietary.
Buy Strength Index
Sell Strength Index
It tells me when to execute a trade and when to get out. In between, I get what I get.
What it does is saves me from the BIG LOSS which ruins any traders account. Here are few points by which traders can remove this bias where they think "mujhe lagta hai" and rather check few things before they start shorting the market.
Check the price on 1D and 1HR time frame. If the candles are regularly forming outside LIPS i.e. Low of the candle is greater than Alligator Lips, trend is bullish and if High of the candle is below Alligator Lips, trend is bearish
Check whether the price on selected time frame is on top right side of the chart. If yes, the trend is bullish. If price is on bottom right, then trend is bearish.
When you see two conditions matching i.e. price at all-time-high on right corner with low of candle above alligator lips, do not short the market as market is in an uptrend.
Similarly when you see price at lows on bottom right corner with high of candle below alligator lips, do not buy the market as market is in downtrend.
This simple exercise will save you from the so called bias of mujhe lagta hai and you can start finding the ways to trade with the trend.
For eg. check the chart of #TATAMOTORS and learn