In today’s trading lesson we go over the same stock we reviewed in our last video, QTT. Having a huge range, we saw to take a secondary opportunity on the bounce of it at $9 this week.
Our initial bounce trade was a success, and we had a great first trade on it. But after it broke out, it began to consolidate and pullback to the 9ema. At that point we doubled up our position on anticipation of a pullback breakout.
Due to the fact that we missed a few trading rules, this trading winner ended up turning into a loss because of our greediness and bias on the breakout of it. Learn from our trading loss so that you can prevent confirmation bias and doubling up at the wrong places.
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