I entered two long positions on the GBP/JPY on the London open. I used 5 minute conformation for both of them instead of waiting for higher time frame confirmation (structure and retest formed on the 15 or 30), If i had waited patiently for a pull back, retest and then confirmation on the 15, I could have had a better stop placement and a winner.
I can be quite impulsive in general and have definitely noticed this in my trading as I feel sometimes I am going to miss out on trades when I should really wait for confirmation on a higher time frame.
Lesson learned - Stop been impulsive and using the LTF for entries! wait for a pull back and retest of a support or resistance level, then wait for confirmation.
I can be quite impulsive in general and have definitely noticed this in my trading as I feel sometimes I am going to miss out on trades when I should really wait for confirmation on a higher time frame.
Lesson learned - Stop been impulsive and using the LTF for entries! wait for a pull back and retest of a support or resistance level, then wait for confirmation.