money · Forex · 2018-08-20 · Thomas Ott

~1 min read

I took my first 'real' FOREX trade in ages last week. I sold short 1000 units of EURUSD. I'm betting on the USD getting stronger against the EURO.

While those 1000 units cost me like $100 with 10:1 leverage, and my account is only $125, I ended up dialing up the risk here. Stupid. I also forgot that reading Forex is purely a price action play because all the indicators you add to it lag and are really just derivatives of price action. I should brush up on my candlestick reading. Stupid.

Went long in the lower wick of that doji there. Another mistake I made, I knew it was going to bounce back, should've waited for that to get short. Stupid.

Still, it's better to trade with real money. Helps you deal with the emotions better and faster.

Not bad, three stupids for this trade.