A trade gone wrong
The trapped traders signal which had been developed recently does not always guarantee immediate momvement after previous day close.
This trade was a poor combination of “all-in” & greed which resulted from a decent win to a huge loss, that marred the performance for week29.
I had staked in a large position, after seeing some strong signals appearing at the close of wednesday.
Shorted immediately after trapped traders signal shown. Larger position cussed more anxiety.
h1 trade outcome
Emotions became involved in the trade when large postions was involved. I actually had the chance to book profits but I did not. When it became break even I was unwilling to exit, because in my mind i was not willing to give up the paper gains that i made. So price started moving against my direction. I made a manual cut just right at the top, only for the next day to turn back to its original price.
My take away for this trade would be
1) manage pos size. Sometimes desperation drives pple to do silly things
2)If it is big size trades, be nimble and be willing to exit on slightest of change in the market.