A trader's mindset is fluidly sentimental, it either should be bullish or bearish.
Profit making is key and if a trader isn't making profits, he is making losses.
While sentiments isn't usually a source of controversy, it is one built around disagreement.
Disagreement about market movements, analytical correctness, news flash and the individuals preference for movement of the charts powers sentiments.
There is bias around the market and how each respective trader prefers to have the market treat them differently.
Day trading is hard as hell.
The idea of day trading is to aid the "daily needs" trader make some quick bucks from the market and for whatever that is worth, it had better be profitable.
When the market moves wildly, the individual may prefer to have it pan out in their favor, but it doesn't always work that way.
That might be because of bias, emotional intelligence, because indicators differ, or because the market has moved wildly against you.
The market can only be bearish or bullish for a short time and that there is where the trader hopes to make their gains.
Billionaires are bearish.
As far as trading for profit goes, the sentiment is usually bullish or bearish but, only in the short term. Right now, retail traders are bullish while billionaires are bearish.
This is a convoluted subject because, one wants to make the best of their investment in a short time while the other wants to drive the prices as low as they can so they can buy it all from bottom up and make the most profit over a period of time.
The market is supposed to be influenced by the News.
Bad news usually brings about a decline in the prices of stock and if that isn't happening, then it is bullish. Positions are opened based on expected market movements.
In trading, there can only be bad news for a second, after that it turns.
For example, when a stock doesn’t decline on bad news, people loose money and when it does decline, people make money while some still lost money.
There are certain stocks/currency pairs that won't stay negative for long. Like the price of oil and energy don't stay negative for long.
Trading is risky.
More than 88% of traders loose all their money on trading, while less than 10% break even leaving just about 2% making any profit.
It is a hard market to master because, it has an irrational mindset that seems to always upset the trader waiting to make some profit. I am yet to see a trader who cleans out on a 100% trade daily.
Positioning the mind helps.
Don't get carried away with the positive earnings, it only takes a second to switch to negative.
How you are able to maintain your composure during the volatile and unpredictable period of trading is key. Your sentiments should never be bias but firmly resolved to make the best of the trade.