This is a trader question from the Fibonacci Trading Forum.
What part of your trading do I need to improve?
Finding and choosing the higher probability trade and sitting out on others.
This is a constant challenge, and sometimes even the best looking setups will fail. We have to accept the disappointments, and continue to strive for better performance.
Here is the best way to find optimum trades; Look for trades with solid trend, or significant thrust in your favor. A weak trend, or a trend that is showing fatigue, will cause more frustration and worse results.
With trend in your favor, find strong Fibonacci support/resistance (SK Level) for retracement, and then wait for the move to confirm that Fibonacci Level. Trigger your trade with that confirmation, and look for follow-through momentum in the direction of the trend or thrust. This is the basis of the “TRSI Bounce” trade setup.
Those two basic techniques (trend and Fibonacci Retracement) will help you locate/filter those better trade setups.
-Neal Hughes “FibMaster”.