My CADJPY BAD TRADE - Learning from my mistake.

FX:CADJPY   Canadian Dollar / Japanese Yen
78 3 3
I got ahead of myself and made a wrong LONG call.
I ignored the obvious and it cost me dearly. It again taught me the basic lesson to evaluate and re-evaluate the trade and few successful trade doesn't mean that I can timed the market.. Its market and I've to adjust to it.. and in past I've adjusted and in future will do.. who will not? :-)

I appreciate it. I hope you'll make it a habit of sharing your trading diary entries. :-) Even if not shared publicly, learning from your mistakes is the best habit a trader can have.
Thanks for the postmortem! If you're going to lose, you're at least helping us all learn together!
It's refreshing to see someone talk about a failed position, especially in such detail - I think people can learn a lot from a retrospective like this. I had a similar position back in January when the pair took a solid dive after a long bullish period. I'm now targeting the 90.00 area and to be honest this area of support had me wondering if I'd made a huge mistake - I think a lot of folks thought this was heading for 94.00 and above, last week =)
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