Lucky Me- I Didnt Get Killed Today

I WAS LUCKY on USD/JPY

USD/JPY

This morning, I was up 118.38 from 118.00 entry. Took partial profit, pulled a sl to minus -10 and that hit a few minutes later… OK Stopped out for a decent 30 pip gain. Since it was Friday, I decided to quit and paper trade… 35 minutes later. WHAM. CHICAGO and it’s down to 117.75 in a span of 5 minutes. I checked out the charts I did and it looked like decent support to get back to 118 plus… During that time I was HIGHLY tempted to get back in there for a run back to 118 because it paused for a good 15 minutes at 117.75 before heading lower… but then DOUBLE WHAM… Trade tariff announcement on China and it hits 117.10. I WAS LUCKY. I almost pulled the trigger when that drop to 117.10 hit. I would have been out dead because I usually set up sl after I pull triggers.

Two valuable lessons learned today.

Book decent profits immediately and move winning trades to BE or small gain.

Enter a trade with a stop loss in place.

WHEW!!!