NZDJPY (closed)
Trade Management:
- After a brilliant entry and a fall of 15 pips in the right direction, I decided to leave the stop loss in its original position instead of moving it to break even giving this trade room to breathe.
- Unfortunately, the plan was to bring SL to entry once we had seen a further descent to the downside as there was strong NZD data out overnight so I wanted to prevent capital risk by doing so.
- We then saw price saw back up past entry and into drawdown before we were able to adjust stop loss
- Original stop loss was then hit due to a spike after the data release
Result:
-2.5%
- After a brilliant entry and a fall of 15 pips in the right direction, I decided to leave the stop loss in its original position instead of moving it to break even giving this trade room to breathe.
- Unfortunately, the plan was to bring SL to entry once we had seen a further descent to the downside as there was strong NZD data out overnight so I wanted to prevent capital risk by doing so.
- We then saw price saw back up past entry and into drawdown before we were able to adjust stop loss
- Original stop loss was then hit due to a spike after the data release
Result:
-2.5%
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