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Just checked charts on JPY pairs and what a volatile move in overnight session on the last day of month. I didn't see it coming at all. Perhaps Bank of Japan shocked the currency market by announcing a surprising expansion of its QE program which sent USD/JPY to highs not seen since 2008 and the pair broke through the 111.00 barrier. The dramatic new increase in QE was utterly unexpected by the market with Nikkei also soaring nearly 5% in response to BOJ new policy actions.
As a result of this volatile move we have seen a major change in contest standings as 2nd and 3rd position were taken by new contestants. As far as my position, I am couple of profitable trades away which would get me into top 10.
Regardless of whatever position I achieve in this month's contest, I am happy with the way I have traded and did not deviate from my trading plan. Sometimes, it's very hard to control your emotions and trade with discipline, when you see other contestants making 500% to 600% profit and are way ahead of you and you feel that you don't stand any chance and in frustration take a crap trade and lose it all.
Have a nice weekend.
As a result of this volatile move we have seen a major change in contest standings as 2nd and 3rd position were taken by new contestants. As far as my position, I am couple of profitable trades away which would get me into top 10.
Regardless of whatever position I achieve in this month's contest, I am happy with the way I have traded and did not deviate from my trading plan. Sometimes, it's very hard to control your emotions and trade with discipline, when you see other contestants making 500% to 600% profit and are way ahead of you and you feel that you don't stand any chance and in frustration take a crap trade and lose it all.
Have a nice weekend.
