Took a long off the room setup which was momentum from a big candle on Dax and then trade long on the next which I didn't like to do the candle was nearly 20 pips no retrace. I thought it was going to retrace and it did and then continued on. I went out for -4 on Dax. The FTSE then opened and the room went long off 5900 which I didn't take due to the loss, this shot up way over +10 in a couple of minutes. +10 again could have been made today in around 10 minutes.
Lessons learned:
Don't go long at the close of a big move just because of momentum and it looks like its going up look for the retrace.
Look into trading the fib retraces on a long candle of the DAX open and maybe others. It hit 61.8% fib level then back up.
Look at Wilson Effect - price continues in the called direction but timing of trades does not seem to be in-line with how I want to trade.
Total so far -4
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