Diary of a Trader 6.27 An EXPLOSIVE DAY
Talk about an explosive day! This morning featured a CRAZY duet of World cup matches which featured Mexico crapping the bed, only to have their bacon saved by S. Korea defeating Germany. Then later in the day came some explosive action on the USDCAD thanks to the “Let Me Be Clear: From Transparency to Trust and Understanding” speech from Bank of Canada Governor Stephen Poloz.
That explosive action triggered a short position that I’d been waiting on for a few days on the $USDCAD. After an initial high momentum bullish rally that seemed as if it would run through my stops without looking back, the market corrected itself leading to a profitable trade.
As a rookie trader, there’s no doubt that I would have panicked and exited the position early do to fear, but at this point in my trading career, I just don’t care. And what i mean by that is that i fully understand that in the bigger scheme of things no individual trade matters. All that matters are the entire collection of trades that I take throughout the year.
If you’d like to hear more about my views on the importance of developing a longer term mindset to your trading. Check out this podcast episode below.
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