Montag, 5. März 2012

Update on the EUR/JPY trade, Trade closed poorly.

I like to stay up on mondays and a weekend trade is in the money. Huge monday morgning risk-off is in Play. I was not able to enter any other trade. There was no pullback at all. I am waiting for a pullback to risk-on to enter more. Here, at this levels risk-reward is not in my favour. If we will still sell off into US-Open I am in the EUR/JPY.

EUR/JPY is BE now. Just a reminder, do not let a winner turn into a loser. Specially not on a monday. Be Smart.


I would like to say I am still in the EUR/JPY trade from Friday. …… Nop. Killed the trade at BE.
Now, it is Tuesday morning and the EUR/JPY makes new lows. That is trading, you are fighting the whole evening, adding perfectly into the pull back and after 8 hours of waiting you kill the trade near BE. Now watch and see the pair hit the target. I will not reenter now, the setup is gone. To bad.
But there are some lessons to learn from it. Patience, patience, patience…..and do not watch position trades….
Now preparing for the next trade.
In addition yesterday was the perfect day to trade NZD pair. Guess who was not part of the move, because he watched (babysitted) EUR/JPY.

Addition #2

Misted the whole currency-rally. I will not trade for a reversal yet. I will watch how the US session evolves. There will be better times to trade than a day with 1,5% moves and you misted the boot (actually I stopped myself out before the fall starts).

Not my day, but I have crashed my account by finding the counter trade rally....

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