My first cowabunga trade was at 9:00 am est today and is not going very well at all. I traded EUR/USD on a buy signal and so far it's down 51 pips with 28 pips to reach my stop.
I know this is only one trade, but the problem I see with this one, is that the EMA crossover occurred at the top of short-term up trend. So when the signal came in (as all other indicators lined up), it turned out the trend was peaking. Shortly after getting in, everything went south and even the 4h chart is heading towards a down trend. Not to mention that I'm risking 77 pips to gain 21!
It aint over yet, but so far it's not looking too good. Screenshot attached. Besides just chalking this up to one of those inevitable losses, anyone see anything I did wrong?
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