I'm new to trading so I'm trying to have the ideal plogical mind set for this.

I left a transaction yesterday by shorting USD/CAD. The error (and I'm not sure how to fix this yet) was the Stop Limit (SL) was 80 pips. The main reason I kept it so much is because I have observed volatilities in this currency pair before and have struck SL before. Please be aware I didn't put more than 5% of account equity at stake (on this particular trade or any other trade)

I placed a trade of 2 lots and it went against me. After that I got into position knowing that now I have a sell signal. However, I exited that position out immediately (with no reduction ) because in my mind, I had been feeling that I'm doing sin trading. That is against my rule and I'm happy to get develop a discipline of not doing this.


I'm really looking for any suggestions comments from a few of the knowledgeable traders here whenever they could give me some input. The age old question is still there for if to TP or SL but more than that, I'm wondering if there's anything wrong with my Money Management?


Any remarks or your own expertise will help when you were still in the stage that I'm in right now.

Thanks