Ok...i know i've been slacking on the blog posts, but i've been consumed trying to make back some big losses with my dreaded USD/JPY short.
I keep forgetting the old forex saying "THE TREND IS YOUR FRIEND". Actually...SCREW THE OLD SAYING! AND SCREW THE TREND! You know what actually works? BALLS! You have to be willing to get in deeper as your lose more money. Yeah...I was down over $900 in USD/JPY...over 40 units...with no end in sight -- people getting in long -- saying it was going to go to the mid 80s... So, what did I do? Did I run scared? Did I close my position? No...I SOLD 20 MORE AND SHOVED MY SHORT POSITIONS RIGHT IN JPY's FACE! Why would you do that Ara!??!!
The answer is simple. Faith.
For those of you who are wondering what happened....I sold 20 more units at the peak of a downward slope, and made back all of my money -- and got out happy. And for those of you who told me to take a break (you know who you are)....&*@#^&#$!
Here are 2 new trades i'm looking at....NOW LETS MAKE SOME MONEY!
LONG USD/CAD
Rate: 0.98595 (First Entry Point)
Rate: 0.99342 (Second Entry Point)
Stop: 0.97805
Limit: 1.05000
LONG USD/CHF
Rate: 0.89535 (First Entry Point)
Rate: 0.89097 (Second Entry Point)
Stop: 0.88301
Limit: 0.91500
*Swiss GDP comes out Thursday, and the vibe is negative. Lets make some money our of their misery!
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