The Long USD/JPY Trade I have open is still open and is still struggling to maintain ground. Still basically flat it's a difficult trade to keep open since there really isn't any interest spread the gains ar certainly not making for an exciting trade. I'll continue to hold it open and will keep my stop at 90.53 just in case it falls off a cliff. The USD is correcting today likely in the face of the looming U. of Michigan Consumer Confidence report due out tomorrow.
Thursday, December 11, 2008
USD/JPY: Long under water today by 100 pips
The Long USD/JPY Trade I have open is still open and is still struggling to maintain ground. Still basically flat it's a difficult trade to keep open since there really isn't any interest spread the gains ar certainly not making for an exciting trade. I'll continue to hold it open and will keep my stop at 90.53 just in case it falls off a cliff. The USD is correcting today likely in the face of the looming U. of Michigan Consumer Confidence report due out tomorrow.
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did it wipe out your stop? i'm thinking about going long on this now that it's so low (90.40) but i'm afraid it might continue to free fall
ReplyDeletewell, i entered long at 90.825 and a 200 pip stop... let's see what it does now.
ReplyDeleteGood stuff Jim! You can't worry about it swinging against you because it's the market and the market will do what it does. You protected yourself from a massive free fall by using your stop. So never worry about where it's going to go. Just look for the "good ones"
ReplyDeleteYTes my stop was hit and I got taken out.
Your long entry is up by about 30 pips or so
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