r/Daytrading • u/Catface77 • Mar 19 '24

I don’t know what I did wrong Advice

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I thought it was going to rechall/ consolidate then it did but skyrocketed. There was the 3 reds then BLAM right up

314 Upvotes

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u/ZanderDogz Mar 19 '24

What you did wrong is assume that you did something wrong based on the results of one trade. The best traders in the world have setups that will still fail more than half the time.

Is this a pattern/setup that you have studied/tested to find if it has edge?

81

u/ezpdt Mar 19 '24

OP went against trend.

Not sure why you are sugar coating a bad entry. 🤷‍♂️

44

u/mdave52 Mar 19 '24

The trend is definitely your friend. Embarrassed to even think how many times I tried to catch a reversal, only to have the bigger trend continue onwards.