That is the state of the market these days. The market has not only gone back and forth one day after another, it has transitioned back and forth during the day. Now it is pretty typical the stock market will ebb and flow up and down, but not being up big to being down big. Then the reverse happening the following day. So it is hard for traders to even consider holding anything overnight. It seems it is even difficult to hold during the day. It seems silly, but the effects of sentiment and transitions have accelerated quickly. Some of the fuel to the fire is by a simple Tweet. Some are based on Fed Talk or global news. Whatever the case may be, the markets are moving back and forth quickly. There is real fear out there and no one wants to get caught on the wrong side. For me, if I have the conviction to take the trade then I have the conviction to hold through the trade. The only difference is that I am having to manage quicker. I expect the markets to try and rally back for the rest of this week. Stay tuned though, I may change that sentiment in about an hour. 

Follow me on Twitter: @DiscipleOfTrend

about the author:

Charles Moon

Charles Moon is a technical "whiz kid" whose experience lies in scalp/swing trading. A patient educator, Charles excels at coaching/mentoring and can make complex concepts simple. Prior to joining the ranks of Prosper Trading Academy, Charles was a proprietary equities trader with Great Point Capital LLC. Coming from a retail trading background, his experience can help those with no experience trading to seasoned veterans.

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