Showing posts from June, 2019

Trading Review: No suitable stop loss and Premature Quit

I made two trading mistakes today as a beginner: No suitable stop loss and Premature Exit. I want to discuss each in more details to help my future self. 1. No suitable stop loss 2 weeks ago on May 31, I observed a big sell-off of USD agains JPY. The sell-off happened because the US and China did not agree with the counterpart's trade terms. The USD price felt because traders worried that if trade war prolongs, USD economics might get worse and therefore they sold the dollar to park their assets to a more stable currency the JPY. I myself did not think that trade war will prolong [1] and leaders of those two countries will act when they see enough struggle from their domestic company. I also observe that historically since Trump became the POTUS, he had not one time tried to devalue USD against other currency to boost America's economics. Due to above reason, I bet that USD will rise again JPY after a while, so I entered USD/JPY position by buying 50,000USD at following dis