And, also on the daily, it seems!
Well, that's it! I just jumped in ... bought at 2.0392 with a stop at 2.0367 and the limit set to 2.0429. That allows me a 25% loss potential, versus a 50% possible upside.And then I watched in disbelief as, within minutes, I lost 20% of that stake! I may still break even or even head into positive territory, but right now I'm taking no bets on that. Wait a minute. I forgot to check on the 4-hour timeframe - not a good idea.
Okay, that explains a few things - it's distinctly bearish on the 4-hour timeframe.Lesson I don't seem to learn: Confirm, confirm, confirm - before you place your trade, not just when writing up the trade log. Better yet, write the trade log before you place your trade, include the exit points!
No, I'm not ducking out of that trade. I'll let it play out. If I lose, it will be well deserved! Might as well learn the hard way if I refuse to do it the easy way, right?
Update:Yes, I got stopped out. Was there ever any doubt about that? Locked in a nice little 25% loss on that trade. Maybe that'll teach me not to get trigger-happy as soon as I wake up. :)
