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TRADING BLOG EP. 35 - I MADE A BIG MISTAKE

Following your rules is a key principle when day trading. If you break your rules, it may cost you. And today, it cost me a losing trade. So make sure you learn from my mistake, so you don’t make the same one. I could’ve easily avoided this losing trade had I followed my trading rules 100%. But I slightly deviated, and it made me take a loss.

I ended up recovering from the loss, but it could’ve definitely been avoided. I re-entered the trade after taking a loss when my full setup criteria was met. I should’ve been patient and waited for the proper signal to get into the trade. Instead, I jumped the gun a little bit and ended up causing me to take a losing trade before taking a winning trade. So making this mistake costed me to make less money today then I would have if I had just taken the winning trade.

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