Oops… I guess my first trade didn't go in my favor 😂
I opened a
$WTIOIL LONG and it hit my SL.
And yes, this one was on me.
The loss wasn't that big, but I want to explain why I took the trade and where I think I went wrong.
I've been watching
$WTIOIL for a while, and the overall structure looked bullish to me.
Higher Highs.
Higher Lows. 📈
When trading this kind of structure, I usually look back at the previous Higher High and watch for areas where price could potentially react, especially an Order Block (OB) or Fair Value Gap (FVG).
Yesterday, while analysing
$WTIOIL on the 45-minute timeframe, I identified two possible areas for a long entry:
An Order Block and an FVG.
The FVG was below the OB, so I initially placed my entry around the FVG.
But this morning, I opened the chart and saw price moving up.
Price had already reacted to the OB and left the FVG untouched.
At that point, I thought:
“Maybe price isn't coming back for the FVG” So I entered LONG around the OB, The market started moving in my direction and I was actually feeling good about the trade 😄
I left the
@KriptoKGlobal app for a while…
Then boom.
📱 SL notification, The funny part?
Price eventually came back down and cleared the FVG anyway. 😂
Looking back, I probably shouldn't have rushed the entry just because price had already moved away from my original setup. That's the lesson I'm taking from this one.
I'm not going to force another
$WTIOIL trade. I'll wait for my next clean setup, most likely on
$SOL.
One more thing I noticed from my first experience with
@KriptoKGlobal:
I haven't seen a separate trading fee deducted from my first trade so far. However, there does seem to be a difference between the amount I deposited and the amount credited to my perps account.
Yesterday I deposited around $246 and received about $241.40.
The market was moving at the time, so I'm still trying to understand exactly what caused that difference. I'll keep monitoring it as I trade more.
And finally, the leaderboard:
I'm still not qualified yet because I need two separate filled orders, I've got my first one now. One more filled trade and I'll officially qualify for the League.
Hopefully the next one takes me straight to TP instead of SL this time 😂📈