FPL loss

Another loss, this time on FPL. This one was another example of bad trade management. My initial stop was 50cents away from my entry. The trade went in my favor for the day of entry, but the next day, it threatened to gap against my position, so i moved the stop.

The next day, the trade continued to go against me, albeit a small amount. On the third day of the trade, it went against me even more and that's when i woke up and exited at a near 2R loss.

With perfect 2020 hindsight, my mistakes these couple of days seems to be:
1) Trying to call the top. The SPX was falling for 2 days, so i thought it would be the resumption of the bear. However, i ignored the fact that volume was light, and that it didn't take out the killer one day 6% rally's low.

2) Bad trendline drawing. Looking back at the trade, the trendline was actually cracked, and the reaction against it wasn't as it should have been.

3) Forgetting PotP's rule of "you're wrong when you enter the trade. the market has to show you that you're right. otherwise, exit and look again"