Premature entry. This trade wasn't ready to pop to the downside. I misread. This is a poor read. An error in reading timeframes and deciding when to enter. My correlation was obviously off and I clearly need to do some more work on letting big 4/60 trades develop more. It looked like it was ready to go. But the STORY was already letting me know it wasn't. Way too much buying pressure still available. Needed to let the buyers die out and then join the sell when sellers return, but they never did. I just anticipated the move way too much based on the V formaion and the little test I "thought" I saw on the smaller timeframe.
Took a big loss on this.
THIS is the kind of mistake that can't happen.
Which is why I'm documenting it - because it's these mistakes that cost me HOURS of time and BIG money.
Can't trade big and make these type of silly mistakes frequently.
SHEesh!!
Took a big loss on this.
THIS is the kind of mistake that can't happen.
Which is why I'm documenting it - because it's these mistakes that cost me HOURS of time and BIG money.
Can't trade big and make these type of silly mistakes frequently.
SHEesh!!