"Take Risks: If you win, you will be happy; if you lose, you will be wise. Nothing ventured, nothing gained."

Wednesday, January 6, 2010

6 Jan - Phew Day Usd/Jpy

The two green dotted lines were basically my long entries and the top red dotted line was one of the take-profit and bottom one was both stop-loss. Once again i entered my first trade at a very bad price 92.41, it was juz moment before ADP Non-Farm Employment Change announcement and i longed the Usd/Jpy. Data was bearish than forecast. price went against USD as well as me. i did two average in more shots, before closing my first trade at -30pips.

i went in long 30 minutes later when 92.10 (50% fibo zone) served the support well. i also trusted the ISM Non-Manufacturing PMI announcement an hour later. not long, the US bulls gained momentum, i closed my 2nd and 3rd position (at +10 & +5 respectively) and trail with my last trade so that the stop-loss is at profit for a breakeven. Phew.

I let the last position on for the announcement but was once again backstabbed by the bearish data. i quickly closed the position at +26 pips before it went against the dollar. im not sure how is it going now, as i usually close the chart once im done for the day when its done, its done. trying not to overtrade, and go overtime. soccer players go exhausted playing into overtime. and when u reach the penalty shots, it is gambling. So i ended with +16 which could have been a night where my week's profit were ripped.

I was guilty to say that my 2nd and 3rd position i had actually pulled down my stop-loss, which saved the day. it felt like a gamble, it totally was, although i knew i would juz shift it down once. greens today is juz luck for me.


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