USD Forex Trading Mistakes of The Day

USD Forex Trading Mistakes of The Day

Another day, another mistake and more learning.

I took a trades based on 2618 shorting style. I made 3 trading mistakes today:

USD Forex Trading Mistake of the Day
USD Forex Trading Mistake of the Day
  1. First Trading Mistake was that there was psychological price 1.3200 level just above which I should have included in my stop loss calculations. That would have meant bigger stop which leads me to second trading mistake.
  2. The second trading mistake was to wait for a confirmation in the zone to take an entry as stop levels were supposed to be high.
  3. Third mistake is the one which caused all this mess to start with. I missed/ignored the fact that there was a news expected on USD today.
    FriOct 23 9:45am USD Flash Manufacturing PMI

All these are there in my trading plan so moral of the story again is remember to remember your trading rules. One deviation from it can be costly.

-TradeYodha

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