I still remember one of my earliest biggest trading losses.
It was this $PEPE, and I lost about 1,200$ .
What made the story different is that I wasn’t chasing the top. I was able to get a situation that I considered a good entry. The market structure looked promising, the impulse (momentum) was strong, and at the time it felt like this trade made sense to me.
Then October happened.
$PEPE saw a sudden and aggressive breakdown, and the move against my position happened faster than I was ready for. What started as a trade I felt confident about turned into a big loss.
I learned something there that I hadn’t fully understood before:
A good entry doesn’t mean the trade can’t go wrong.
I had spent too much time thinking about where I would enter next; if the market moves against me suddenly, I’m left thinking about what to do for longer than I was thinking about where to enter.
It was this $PEPE, and I lost about 1,200$ .
What made the story different is that I wasn’t chasing the top. I was able to get a situation that I considered a good entry. The market structure looked promising, the impulse (momentum) was strong, and at the time it felt like this trade made sense to me.
Then October happened.
$PEPE saw a sudden and aggressive breakdown, and the move against my position happened faster than I was ready for. What started as a trade I felt confident about turned into a big loss.
I learned something there that I hadn’t fully understood before:
A good entry doesn’t mean the trade can’t go wrong.
I had spent too much time thinking about where I would enter next; if the market moves against me suddenly, I’m left thinking about what to do for longer than I was thinking about where to enter.
