Live Trade Overview
A Teen Trader is an educational Site Only. Risk what you can afford to lose.
This is my first loss of the year. I lost around 9 pips. Miss read candles and didn’t wait for a proper confirm to take a successful and highly probable profitable trade. It happens.
This trade i was noticing that we were accumulating at resistance so i took buys with a 10 pip stop loss, and a 15 pip take profit. The goal here was to get almost a full zone to zone move. And as easily seen, it didn’t happen. What i failed to notice at the time was that those “accumulation candles” Were actually more of rejection wicks, longer wicks on the top than bottom. This was a very stupid mistake on my part.
How to improve:
This trade is easy to improve on, be logical and notice what is actually happening with the candles. Which was rejection wicks, NOT accumulation. I pride losses because it allows me to grow as a trader, i don’t like them, but i will not hide them. I hope you took some good lessons from this trade as i did, Cheers and
Check out my NEW YouTube Video on FTR and FTB (here).