the text in the chart says it all
don't think u're a genius because you longed a dip, zoom out to see the bigger picture and understand that any trade requires risk management for this specific reason
don't try to catch a falling knife, either go with the motion or wait til it has fallen
look for strong demand zone
and your stop loss will be your best tool whether you go with the motion (short at a pullback) or try to long the dip, STOP LOSS is PRIMORDIAL
stop loss protects u from cutting urself too deep in case u were catching a falling knife
don't think u're a genius because you longed a dip, zoom out to see the bigger picture and understand that any trade requires risk management for this specific reason
don't try to catch a falling knife, either go with the motion or wait til it has fallen
look for strong demand zone
and your stop loss will be your best tool whether you go with the motion (short at a pullback) or try to long the dip, STOP LOSS is PRIMORDIAL
stop loss protects u from cutting urself too deep in case u were catching a falling knife