Initially, I was playing small with the Euro/Yen cross with a bias to the downside. The hapless Kan government puffing about intervention but doing nothing about it was perfect. And with Greek issues unresolved, the table was set for a move in my direction.
But then the BoJ does the unthinkable. They intervened. What? Are you crazy? Well, after realizing a how silly this was I piled on. Twice. With my cost basis at 108.30, I went to bed comfortably. Waking up was a little rough though after I saw 111.00 being printed. Okay, don't panic. It will come in.
It did come in for a few hours, but then up again it went. I called my broker to find out when they would liquidate my position for me. This is a good sign. Actually it's a bad sign, but it's a telling sign. In the end, nobody was going to fix this blown up trade but myself. I closed it for a 280 pip loss.
I will be spending the remainder of the year trading small. Hopefully crawling out of the abyss I put myself into. I'm still trying to figure out how many fingers I have left after trying to catch a falling samurai sword.
Year-to-Date my forex trading is still up, but my style of trading yields wild drawdowns and dizzying runups. It's a small isolated portion of my entire trading portfolio. YTD return now stands at 95%. You don't want to even know where it was just last week.
0 comments:
Post a Comment