ESU1 Trade on Jul 8, 2021 11:15 from Kingkillabee: Tradervue User Stock Trades.

Managed Wrong

Reason for entry: On 5 min, I shorted (before confirmation) at the top of the range expecting a reversal back down into the range. I exited before the candle closed when I realized that price was most likely going to break the range and go higher.

What could have been done better: WAIT FOR CONFIRMATION. I have made this mistake several times today. I think I get excited when I see something and am afraid I am going to miss it so I jump in. This almost always causes me losses. I definitely wouldn't have shorted this if I would've seen what it looked like on closure. There will always be other trades to take, I will make more money with less emotional stress if I wait until I see confirmation.

What was done well: I did a good job paying attention and seeing that the market was not going to do what I expected, so I got out before my entry bar even closed.

What was missed: I did miss the Jewel Buy signal (2nd pic), which would have helped signal me NOT to enter.

Also, the Stochs were avoiding the bearish control zone, the RSI was printing multiple drives of bullish divergence and we were making higher lows since the premarket hours.

Emotions: Complacent. I did not write down my emotions on this trade in the moment like I normally do, and I cannot specifically recall what I was feeling in the moment. Hindsight however, I feel like I probably entered with a little bit of hope and didn't really see much in the way of signaling me to short. I believe I shorted simply because we were in a range and ranges often continue.

How could I have lost less money: Only enter trades with confirmation.