I see now that I have made a mistake trading Gbp/Usd
I don't know how I could have missed it, but I bet on a Gbp rise today;
there is never one way to a data release though:
In this case BOE's Carney refused to put a date on a Gbp rate hike and the pound tumbled
Herin lies the judgement mistake that I made:
why bet on one way: I had already bought Gbp on its initial move up last night,
only to get stopped out just below 1.68 again
I should have put in buy and sell stops both ways,
because the move down is substantial - I could have made some pips
it reminds me again that this is no betting game - pips are aquired reading the technicals and fundamentals of a pair correctly
not on data releases - these are the cherries on the cake if you get them right
Anyway - I see that Usd/Jpy has gained some more ground
and have decided to go long Nzd/Jpy:
because of the lower margin requirements on this pair I was able to buy 5 million;
Nzd/Jpy has the potential to gain ground if Usd/Jpy moves up above 103,
with support now building up at 0.86 for this pair
I don't know how I could have missed it, but I bet on a Gbp rise today;
there is never one way to a data release though:
In this case BOE's Carney refused to put a date on a Gbp rate hike and the pound tumbled
Herin lies the judgement mistake that I made:
why bet on one way: I had already bought Gbp on its initial move up last night,
only to get stopped out just below 1.68 again
I should have put in buy and sell stops both ways,
because the move down is substantial - I could have made some pips
it reminds me again that this is no betting game - pips are aquired reading the technicals and fundamentals of a pair correctly
not on data releases - these are the cherries on the cake if you get them right
Anyway - I see that Usd/Jpy has gained some more ground
and have decided to go long Nzd/Jpy:
because of the lower margin requirements on this pair I was able to buy 5 million;
Nzd/Jpy has the potential to gain ground if Usd/Jpy moves up above 103,
with support now building up at 0.86 for this pair