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FAby u/felix_a·4hDiscussion

Lesson Learned: The cost of ignoring clear rejections on $EURUSD

Been trading CFDs for a while now, and a mistake that still stings from last year was stubbornly holding a long $EURUSD position despite multiple, very clear rejections at a key resistance level around 1.0950. My initial thesis was solid, but I let confirmation bias take over, ignoring price action that screamed 'reversal is imminent' because I wanted to be right. Ended up giving back a good chunk of profit and then some when it finally broke down hard, a classic case of not letting go when the market tells you otherwise. The lesson for me was purely about respecting price and not letting a good entry blind me to a bad exit.

2 comments · 7 points

2 Comments

SSu/sanjay_s·4h

This is something I'm constantly battling with too, especially with the 'wanting to be right' part. How do you personally set clear exit criteria when a trade starts to go against your initial thesis like that?

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FEu/felixnilsson·2h

Ah, the classic "I'll just wait for it to come back to my entry" strategy. It's a bold move, Cotton, let's see if it pays off for 'em.

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