Long USD/JPY at 110.30 on 9/1/2017. Initial Stop Loss 109.85
Loss: 71 pips
HEADLINE RISK -The possibility that a news story will adversely affect a stock’s price. Headline risk can also impact the performance of the stock market as a whole.
Sometimes negative things happen and there is nothing you can do about it. That statement sums up this trade in a nutshell. No matter how much we plan for things sometimes things just happen that are completely outside of our control. This is a reality in everyday life and in trading. Obviously if we had a crystal ball the reverse of this trade heading into the weekend would have been ideal, but since we do not we just have to chalk it up. Kim Jung Un..thanks.
The market reacted negatively (of course) over the weekend to the news that North Korea had tested a H-bomb. We had a stop in at 109.85 but the market opened well below that so we got our fill at 109.54. That’s just the way the cookie crumbles sometimes and that is trading. On to the next trade.
Long EUR/JPY at 130.50 on 9/3/2017. Initial Stop Loss 130.12
Loss: 38 pips
Another good trade taken after the unfortunate headline loss. No revenge motives or emotional response, just taking the next trade. Sometimes losses come in bunches but professionals carry on.
Long CHF/JPY at 114.44 on 9/4/2017. Initial Stop Loss 113.92
Loss: 52 pips
Drawdowns happen and should be expected. Another good trade that resulted in a loss. Moving on to the next one.
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