Tuesday 22 January 2013

21/01/2013 AUD/JPY long (loss)


Here's a trade I opened yesterday, based on the 3 time frame strategy (explained here). Chart explains, entry, stop and target. Plan was to move stop to break even once price hit 1:1. Risk was 0.5%, aiming for 3:1 RR. Click chart to enlarge.






And here is the exit chart. As you can see, price did hit 1:1 but because I left the trade open overnight like an idiot, I was sleeping and didn't have a chance to move stop to break even once price hit 1:1. Therefore I woke up in the morning with a loss. Unacceptable.



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