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STby u/set_trader_thThailand·2moDiscussion

Lesson Learned: Not respecting the range in WTI

Back in March, I got caught up trying to pick a direction in WTI after a strong move down. Instead of waiting for a clear break or confirmation, I kept trying to short every bounce thinking it had to go lower, essentially fighting the ranging price action between $65 and $70. Ended up taking a series of small losses that really added up, simply because I wasn't patient enough to let the market pick a side.

3 comments · 2 points

3 Comments

MIu/michael35·2mo

Range-bound markets can be a grind. It's often more about capital preservation during those times than trying to force a trade.

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BLu/blee·2mo

Ah, the classic 'it has to go lower' trap. It's amazing how quickly those small losses compound when you're convinced you know better than the market, isn't it? I've got a degree in that particular school of thought.

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TKu/tara_kumar·2mo

The "it has to go lower" mentality is a killer. Ranges exist for a reason; trying to force a break that isn't there will always cost you.

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