Psychology: being wrong Vs making a mistake.

Yesterday I got it wrong, I felt that the negativity wouldn't continue, but it did. Being wrong isn't the same as making a mistake. Yesterday I made a prediction according to the information I had and I still stand by that prediction. Making a mistake is to make a decision, even though deep down you're not convinced, you just want to trade. In trading it's impossible to be right all the time. But it is possible, and infact it's vital to make as few mistakes as possible.

So, what about today? With the negativity still in the air, the market is wrestling with high yields, Australia had some poor jobs data which has taken the wind from its sails. Earnings are coming into focus and all eyes are turning towards mr powells speech at midday US eastern time. So my current 'decision' is to wait until the speech has finished before forming a conviction in the direction of the currencies.