Another resistance being taken out

Once again, the markets break another stubborn resistance at 1360 and try to marching upward again, but are too bad the break up is not supported by higher volume. Honestly it is a quite suffers week for those position holders that holding long after the break up of 1350 and I also keep scratching my head for our market movement.

When looking at the chart back, it is definitely a good week for day traders as they can earn a lot of fortune by sell at 1358-1360 level and then buy it again at 1351-1352 level. I was begins my trading life as a day trader before, and my record was able to wining 5-6 times in a roll but in the end I still given out all my profit in a trend. This is why I reluctant to get in the market for scalping and I also understand how addicted it is when you winning in a roll.

However, I also get to know some people that very successful in day trading, so it doesn’t means day trader is unable to survive in the long run. Day trader are always try to trade in highly volatile market rather than nearly dead market to avoid slippage that will deteriorate their exit level. What I understand is that day traders have to focus more on their exit point rather than entry point, so when they are wrong, it require them to immediately to response to the market, cause a single delaying on decision making will bring disaster to their account. I admit I’m kind of traders that like to think, that’s why I think day trading is not suitable for my personality.