This is something I need to work on. The logic that drives this behaviour goes something like this:
If I don’t get in now I will miss it! But actually there is no thought process – I see the candle and I react which means I get the worst entry because this reactive entry is a retail entry.
It looks like I entered on S2 break but the chances are that this will retrace back to S2 or 169. This trade did work but it was unnecessarily risky and very nearly stopped due to the poor entry.
I did the same earlier on – taking a second attempt at a sell because I saw the red bar just after I’d been stopped on the first trade.
I took one short in reaction to red candle at S2 and when that got stopped I did the same thing again – reacting instantly to the big red. This was in fact a long setup if anything but i was reacting …. just like the MMs know I will.
