Attached above is the 4-hourly chart for AUDJPY.
Quite lucky that I longed only mini-contracts. My consideration when I longed was that this is a counter-trend trade to catch a dead cat rebound. Counter-trends are relatively more high risk but usually with good reward. The reward-risk ratio when the trade was taken was good: http://donovan-ang.blogspot.sg/2016/01/audjpy-13-january-2016-wednesday-952am.html. The trade gave immediate profits. It then turned into a loss, and I have decided to exit with a loss due to the higher risk now.
Enforced discipline to cut and exit on intra-day breakdown of pink trend support.
Enforced discipline to cut and exit on intra-day breakdown of pink trend support.
Above are the losses in (￥) Japanese Yen.
Below are the losses converted into SGD.
Below are the losses converted into SGD.
Profits in this trade:
-￥505,800
(-$S 6,344 SGD)
(-$S 6,344 SGD)
Cumulative:
S$ 31,072 - S$ 6,344
= S$ 24,728 SGD
Trading Journal:
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