Today, I was on the wrong side of the trade big time and lost almost 80% of my equity in few hours. I was caught completely off guard by the surprise rate cut by ECB. Was not expecting anything like this, instead was anticipating some kind of Asset Backed Securities covered Bond Buying announcement and a small bearish reaction, but this rate cut act completely ruined my analysis.

The trade was based on technical analysis as EURAUD was at a monthly support level and was anticipating some bounce from this level, but fundamental reasons were too strong.

I will try to build my equity back to a reasonable level in coming days, there is still plenty of time left in the contest.

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