Another early morning in HK
Posted by trywalker / 7:51 a.m. @ Hong KongJan 6
When was the last time that I had a bad trading idea but hit the price target on the other side ? Well, it was yesterday. AUDUSD short idea didnt work so I felt not good about Aussie which kept me away from getting involved yesterday. I basically picked the topside at 0.9170 ( yesterday high at 0.9174) and did not sell any into it. I think this is a major issue to pay attention in the future so need to learn after losing trades how to stay focus on the pair and re-build a strategy to gain the losses.
Secondly, lack of liqudity in EM pairs in Asian session puts me behind to build up some confidence as EM is less technicals, more fundamentals and market positioning in addition intraday feeling. I managed to sold some USDTRY at 1.4765ish with a tight SL at 1.4835 in mind, targeting 1.4685 on the downside but after XXX-JPY getting smashed and keeping USD trades under pressure, I closed the position which hit the take profit level just after Istanbul opening. So need to learn to stay calm with EM positions and feel more confident about it in early Asia trades.
Finally, good order execution in EURNOK and well-earned p&l was not good enough to cover the cost of SL in USDJPY long from 91.70 and a forgotten SL oda for the same position on an e-platform. I managed to sell half of USDJPY long at 92.05 and re-bought at 91.70 after office hours but got stopped out at 91.40 later in the evening. Also covering the extra shorts from 91.40 at 91.75 was the real pain in the bud.
Today is a new day.
So Lets move on.













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