The EUR fell the day I put this trade on, but it rose against the SEK. I didn’t know why, and I still don’t. That, combined with a fairly limp breakout, should perhaps have made me more cautious about going in. Part of this is that I had missed a good EUR/NOK trade and saw an analogy here. To my list of mantras I have added “there is nothing more dangerous than a trade you have missed”. I was also greedy with the stop: I could have placed at the next level up, which wasn’t very far away; this is the level off which the price bounced on the day of my trade (see chart below — the line shows the level of the stop).

Original trade sheet here.

Advertisements