I looked at quite a few pairs this morning, but nothing had a great setup, or the R:R wasn’t there. I was luke-warm on CAD, but I liked it enough to keep my eye on it. Late morning, I had a call with my coach, and we talked about my trading and it made me feel a lot better, and gave me some things to work on.
After lunch, and taking a break, I came back and saw that CAD/JPY was high basing. The R:R was a little lower than I’d like but I looked at a lot of pairs to no avail, and I wanted to get a trade in before Wednesday — admittedly, it was more of an impulse trade than anything..
Entry – 80.595
A little while after setting my entry order, price pushed up and triggered me in. I was keeping an eye on this on TradingView on my phone, but I didn’t think it quite got close enough to trigger the entry, but I happened to go check the computer and saw that I was in the trade.
| Entry Order Level |
|---|
| 80.595 |
| Stop Loss Level |
| 80.22 |
| Target Level |
| 81.24 |
Exit – 80.205
Price danced around for a while after I got in — at one point while I was watching it got so close to my stop, I thought I was going to be stopped out then, but I wasn’t. I continued to monitor until I went to bed, and when I woke up and checked the charts, I saw that price had pushed down enough to stop me out.. I shouldn’t have made the trade in the first place — I need to be more disciplined.
