Sunday, March 30, 2008

USDJPY Trade

Pulled the trigger on a short of USDJPY.

The stop is on the chart, above the recent high, shown as a grey dotted line. I'll trail this one, current target set at 90 just so I have a target.
UPDATE:
The Good: Position size set, stops set up with order, trade planned before placed. The trade went the right direction to start with
The Bad:Took a loss. Stop set up to far away, didn't wait for the right time to enter. With the entry, the stop stop could have been tighter.
The Ugly: I think this quick move was from the US non farm payroll report. I was reading about trading the news days before this trade and I should have known better. If the trade went my way though, I would have been claiming victory right?

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