This is a trader question from the Fibonacci Trading Forum.
What causes me the most difficulty?
Confidence/ Trust in the Fiblevels/ Analysis Paralysis. I recently pulled the trigger on a $500 profit even though it wasn’t near any Fiblevels because it was a solid positive profit. While I believe any gain is positive, and I’m happy with the profit I made – if I don’t trust the Fiblevels then what’s the point!
Some traders have a strong urge to exit when there is any profit. This limits your opportunity, we are supposed to let our profits run!
I may misunderstand you, but it seems that you are nervous once you are in a trade. At that point you are really depending on momentum and trend to continue. That is where your confidence should be, in the likelihood of a move continuing. At that point you should be more focused on your belief that the move continues, than the Fibonacci levels. Let’s discuss this in a live Fibonacci Trading Forum webinar soon.