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Thursday, 2 June 2016

AUDJPY Technical Analysis For Your Learning: 2 June 2016, Thursday, 11.10am Singapore Time

AUDJPY Technical Analysis For Your Learning: 
2 June 2016, Thursday, 11.10am Singapore Time

Attached above is the latest AUDJPY Technical Analysis.
Refer to the recent past live analysis which I made 2 days ago and entered the trade:

After giving the yellow flag and amber flag benefit of doubt, the red flag appeared today.
I have made the decision to cut all losses in this trade right now for risk management purposes.

Main consideration:
Technicals which led me to make the judgement of cutting as early as possible is on chart as above: yellow flag, amber flag and red flag. This is to limit the damage to as minimal as possible although the damage from a wrong short-term trade judgement had been committed.

Above are the losses in (¥) Japanese Yen (JPY).
Below are the losses converted into (SD) Singapore Dollar (SGD).

Losses in this trade:
- S$ 22,765 SGD
(A loss of -$22,765 in mere 2 days due to error in technical judgement is considered a bad trade)

S$ 1,154,915 - S$ 22,765
= + S$ 1,132,150 SGD

Trading Journal:

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