Note that waiting for this retrace entry at the key support level would have allowed you to
get a tighter stop loss on the trade and a 4R profit as a result.
Not exact matches
But most newcomers
get so afraid of losing money and put a very
tight stop loss.
Get in early (without confirmation) with a
tight stop -
loss and a conservative target.
This
gets you a better entry because it significantly improves the risk reward profile of a trade by allowing you to place a
tighter (smaller distance)
stop loss, making it more likely that you'll make 2R or more on a trade.