Recently, been entering trades too early through impatience. Today's trade proved the importance of nailing the entry within the parameters of the pattern because I almost certainly would have got stopped out had I have entered even a fraction earlier.
It's not that getting those optimal entries prevents you from going into the red but they allow you to stay in a trade until the pattern is broken...and then some more to make sure (wiggle) WITHOUT exceeding a "normal" loss.
Up until this month's trade, I've always waited for the best entry possible. With my current entries, I'm stopping myself out at/near the high/low as I'm watching the dollar amount not the chart. I avoided that today by exercising that old patience again.
Decided to get back in on a retracement, which is fine, but rushed once again...number 1 shows entry and stop...2's green line is where I got stopped on the first trade and where I re-entered for the second, getting stopped at the red line.
Ended up with 1.25 points overall.
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