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Mid-month review of the last two stop-loss triggered trades, recording the pitfalls encountered so that future trades can avoid the same mistakes.
**First Trade: Lessons from the OP Long Position**
The main issue was with the stop-loss placement. I set the stop-loss at a resistance level, which resulted in being triggered by a quick spike back down. I later realized that in the future, I must place the stop-loss below key resistance levels to give the price enough room to fluctuate and avoid being stopped out by normal pullbacks. Another problem was greed at entry—I was afraid of missing the move, so I went all-in at a high level without leaving room for adding positions later. I didn't catch this move because of discipline and method issues.
**Second Trade: Reflection on Today's Short Position**
The idea of shorting at a high level wasn't wrong in itself, but since the current trend isn't over, I got stopped out. After thinking carefully, I decided that opening new shorts at this position is too risky, so I will avoid shorting for now this week. I considered adding to the position but realized there's no need to enter now. Instead of fighting at a high level, it's better to wait for a pullback or a breakout followed by a pullback to go long, which reduces risk significantly. I might also wait to see if a reasonable short opportunity appears, but the key is not to try to pick the top.
The upcoming strategy is: abandon short operations and focus on waiting for long opportunities at lower levels. Sometimes, doing nothing is the best trading decision.