
Help! I lost money on this!
I need some help. Looking back at the bigger picture, this is such a clear setup to make some good money, but I somehow lost money. I'm not trying to make this a job, just trying to get a little extra cash to enjoy life a bit more. I'd honestly be happy with $50/day (for right now anyway).
My strat is simple, I see the trend up, then a small pull back, when it turns green again and moves past the hight of the last red candle, I buy. Then sell when it starts going red again or it goes high enough that I'm happy with profits.
I do look at the Macd and level 2 to confirm it's probably a good buy. If I had held, I would have been right. In this particular case, the level 2 data was moving so fast and there weren't really any big numbers that stood out, so I didn't find it too helpful.
I do set stop losses, but they seem to always hit the stop loss. This tells me they are too high, but I worry about setting them lower and them still hitting. I guess I'm not trusting my strat? I don't know. It seems so simple, but I screw it up everytime lol.
Is it that I need to trust myself more? Or something else you notice I'm not doing right?
Thanks for any help you can provide!