I traded yesterday without a plan or reason - it was almost very costly
I decided to trade the data release yesterday - US interest rate decision
I had already missed the pre-decision run up, and I knew that
The only reasons I had was that I hadn't traded for too long and that I wanted to increase capital
I should have known better to trade without a plan - you never know the outcome of a data release
I was betting on a hawkish note from the FED and maybe even a interest rate rise
I got caught in the crossfire .. and it has taken me until now - almost 24 hours - to correct
My longs were stopped out and I sold Gbp and Eur crosses after that,
and bought UsdJpy lower - hoping for a bounce, that kept going wrong and I kept losing more and more.
The bounce only happened just now at 110.6, and my account was down to 160K from 348K
I managed to get back to 328K on longs GbpJpy, EurJpy, ChfJpy, UsdJpy and AudJpy
I have closed all for now and a lesson learnt for me
gl all
I decided to trade the data release yesterday - US interest rate decision
I had already missed the pre-decision run up, and I knew that
The only reasons I had was that I hadn't traded for too long and that I wanted to increase capital
I should have known better to trade without a plan - you never know the outcome of a data release
I was betting on a hawkish note from the FED and maybe even a interest rate rise
I got caught in the crossfire .. and it has taken me until now - almost 24 hours - to correct
My longs were stopped out and I sold Gbp and Eur crosses after that,
and bought UsdJpy lower - hoping for a bounce, that kept going wrong and I kept losing more and more.
The bounce only happened just now at 110.6, and my account was down to 160K from 348K
I managed to get back to 328K on longs GbpJpy, EurJpy, ChfJpy, UsdJpy and AudJpy
I have closed all for now and a lesson learnt for me
gl all
