Psychology lesson.

Following the FOMC I was looking at this chart thinking it would go up. But at the time I wanted to wait to for a 1hr swing I could place a stop loss behind. I have now arrived at the charts to see that overnight. A swing formed and the price subsequently went up, but I now find myself in the same situation, with the swing too far away to place a stop loss. And it looks like I should have just placed a trade yesterday.

But the point is. My criteria for placing a trade is to make a decision you would sand by tomorrow, regardless of what happens. Yesterday I didn't feel comfortable placing a trade without a swing to place a stop loss behind.

And I know that as long as I gather enough knowledge to understand the market, and make decisions I would stand by tomorrow, I will place enough trades to make a modest amount of money over the course of a year.

Currently, I still think the JPY is fundementaly over bought and my decision is to wait for a chart I feel comfortable trading.