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In the crypto market, I almost never trade based on news or fundamentals. I always look at price action and the candlestick charts.
This time, when I went to trade crude oil, I made the same mistake again—questioning my own judgment and opening a position based on that.
I assumed that the strait wouldn’t open, that the two sides wouldn’t negotiate, and that aside from how outdated our information sources were, there would also be many messages we would miss along the way.
Even if I guessed right in the end, the friction in the middle, the variables, and the issues around entry timing would all become the source of our huge losses.
After a deep reflection, I will never again trade based on news or speculation about the market.