Trade Review: AUD/USD

Okay, so my trade idea from last night got blown out of the water! It’s my fault though. I made a mistake I’ve made before, which is I forgot that the FOMC rate decision was at 2:15 pm EST – after the European and Asian traders has stopped trading. So, when the euro trading session opened up again, the greenback sold of against most currencies, as in the case of AUD/USD. This actually happened at the last FOMC rate decision and I made the same mistake then as well. Grrrrrr!!! Now, it’s ingrained in my brain and hopefully I won’t make the same mistake again. It’s an expensive lesson learn, but it’s time to move onto the next trade!

Lot 1: -25 pips

Lot 2: -25 pips

Total: -50 pips