Psychology lesson.

On Thursday 20 June, I considered placing a pre event short CHF trade in anticipation of a SNB rate cut.

But my sister phoned me to ask if I could possibly take her children to school, which of course I was happy to do, but it meant I wasn't able to place the trade.

Post SNB decision, I decided to wait until after the BOE later in the day.

I arrived at the charts at the US open and I still felt a short CHF trade was viable as a continuation of the SNB catalyst. And I was very comfortable with three 15min swings to place a stop loss behind (see photo above).

The trade stopped out, coinciding with a drop in NVIDA.

I'll never know for sure, but it appears likely that a pre SNB trade would have hit profit.

My point is that it doesn't matter. The outcome of every decision you make as a trader doesn't matter.....as long as you feel like you've made the best decision you can, with the information you have in that particular moment. My sister asked me for help, and I'd make the same decision again. Later in the day, I felt a CHF short was still viable, and I'd make the same decision again.

Similarly, on Friday, post US SERVICE PMI data, I felt like a USD JPY long was a potential trade. But I didn't take it.

In golf, there is a term 'the yips'. And I currently have 'the yips' regarding placing a trade on a Friday. Every time I think there is an opportunity and take it, the trade stops out. And every time I think there is an opportunity and don't take it, it appears the trade would have hit profit.

The important thing is to continue making decisions you would stand by tomorrow...and only focus on moving forward, don't worry about what could have been.

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