Good stuff!
Lets say we have a candle stick on the 5 minute time frame. This means that every candle represents a 5 minute trading time. The 'body' - the colored in bit shows the open and the close, while the 'wicks' show the high and the low. The color determines if the candle closed higher or lower in the period. If you see a candle with a large wick it means that price made a high or low that was rejected - so 'bouncing back'. Not necessarily back to the price it was at before.
Be careful with those sorts of trades, especially with the leverage you're using. You could have gotten a margin call there. That type of trade is called 'fading a move' , you want to scale in with small size first and then put more on when people are panicking the most.
Plus the more you trade the more experience you'll gain, it's better to survive, make nothing and learn than develop bad habits and have crazy P/L swings.
Good to see you getting involved :P
Thanks, Just now fully understanding the candle stick concept! Been trading all the time lately slowly making back the amount I lost back when I used to panic sell.
Thanks for the warning too! I actually learned about being careful. The hardest thing from before was to learn not to panic sell after placing the order!
Yeah always getting better! Been trading like all the time lately.