JPY crosses

Funny how this market can always bite you unexpectedly

There is no such thing as a safe trade and you’d think that after 26 years in the market that would be deeply ingrained in my mind. Nevertheless we all get complacent from time to time and then the market reacts in a way that we had absolutely not bargained for. If you’d asked me a few hours ago whether there was any chance of the Yen crosses moving 70/80 pips higher I’d have said less than 2%. Just another reminder that we always need to treat each and every trade with total care and if we don’t understand what’s happening, then put an affordable stop on the trade and start again.

  1. Morning Sean,

    With the weekend, you had have trade news trades ideas , like GBP/JPY ;-).

    Let’s go for a new week.

    Good luck.

  2. Patience is a major virtue for traders. When we start losing patience, we get into trades that we don’t believe in…and we lose money.

    A trader is like a hunter, he must hide in the bushes and remain patient until the pray gets close enough. If he is too visible, then either the pray will run away or he himself might become a pray for a bigger predator…

    It is always refreshing (and educating) to read these kind of comments. Thank you 😉

Leave a Reply

Your email address will not be published. Required fields are marked *