Once again today I had been given a replie lesson by the market in EUR/USD.
From 13:15 to 13:33 market was in a downtrend. The market then turned and that I made an assumption that the tendency would stay intact following a retracement. I sold at an assumed point with no signs from the market. The market was stating UP but I knew better and acted upon my premise.
Thus a lesson relearned for me is as follows. ENTER a position just after I get a valid market signal and EXIT on a valid reversal signal or an assumption, but , Never enter on an assumption that I believe I understand where the market is headed. Enter just on signals.
regards