Friday, January 22, 2010

I closed that double GBPJPY position at 145.86 which netted 64 pips. For me, that's equivelant to 128 pips because it was a double. It was only a double because I forgot to change the position size and I took the trade on news a while back. That trade opened on 1/5/2010 and was able to close it today. That's always nice.

At its max, that GBPJPY position was about 350 against me. Of course I've had GBPJPY trades go against me more than 1,000 pips on a number of occassions so trading small and letting them ride is key.

What I need to develop more is the confidence of which direction the yen pairs are moving long term.

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