The classic 'move your stop' mistake on WTI

Back in March 2020, during the initial COVID panic, I was shorting $WTI around $30, looking for a quick drop to test lower support. Had a stop placed logically just above a minor resistance level. As the market started to consolidate, my stop was tested, and instead of letting it hit, I convinced myself it was just noise and moved it up slightly, thinking it would eventually turn. Classic mistake.

Of course, the market ripped higher shortly after, forcing me to take a much larger loss than intended. The initial stop was there for a reason, based on analysis, not emotion. That day really hammered home the discipline of honoring your stops, no matter how much you 'feel' the market is about to reverse. Trust the plan, not the gut during volatile moves.