Thursday, January 7, 2010
7 Jan - Usd/Jpy, Yet Again
Long Usd/Jpy, as US Unemployment Claims bullish, and new Japan Finance Minister supports a 'weak yen'. Price probably will still maintain the uptrend. I entered way much after the data release, cuz price was reacting otherwise. waiting for them to settle. the problem with me as always, entering with the mindset of a longer-term trade, but exiting and adjustment in short-term mentality.
Take for example today's trade. i longed and expect to ride trend, but my first position exited pre-maturely, a few points away from my s/l, which basically didnt hit at all. -14 pips for that. i maintained my second position, which was an averaged in by ten points now hanging as in the picture above.
As for NFP tomorrow, i shd be taking a break but i will still be watching the price movement. NFP is like Mambo Night at Zouk to me, even if u dont drink u still want to be there lol. Adjusted my current second position s/l to +2 pips and letting it run for now.