Tuesday, 21 May 2013

First trade!

Welp...made my first trade on the FX. Used a demo account from Oanda. It was a bad trade but at least I had a stop in place to limit my losses. My spread was also too wide or I might have made some profit on the drop between CAD/JPY. I thought the Japanese government putting money into their economy would make it go the other way. Oh well, still a lot to learn and hopefully I make most of my big mistakes on the demo account.

So, to put the analysis in point form:

- Misunderstood the direction based on the fundamentals
- Did not analyze the fundamentals properly
- Set my spread too wide

That's all I can think of...

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