2 of 2 trade.
USDCHF was on my radar for a while. I wanted to go long. I made so many mistakes, I feel like an amature again.
Here are my errors:
1. I took the position during FMOC data. We had a lot of negative feedback for the USD. This resulted in me getting trapped during the cycle.
2. As I made the mistake of getting in, I decided to remove my stops. This was a really silly move, because price just kept dropping.
3. I doubled up, thinking this was going to reverse soon. Not realising that we had bad data for another hour. I took out another lot aswell.
4. Once Powell speech ended, price did hike up to resistance. The pride in me wanted to pull out at breakeven. We saw price starting to fade. I closed out with a 32pip loss.
This was a disaster trade which I must learn from. I will never make these mistakes again.