While 2% represents little more than a weekend getaway to the ruins in Tulum…it’s my money – and I want it back.
As much as I accept them as a regular part of trading – I’m no fan of losing trades. If you’d been staring at this for as long as I have – you wouldn’t be either. We are supposed to be good at this. We are supposed to win.
The current weakness in the Japanese Yen is truly a thing of beauty, and fits in wonderfully with my long term macro view of currency movements for the coming year. Let it be known – I am bearish on JPY for the long run.
But now? Like this? Further downside? A journey to the center of the Earth? Now?………. How?
Putting this in perspective – the Yen has fallen around 900 pips to the Great British Pound (GBP) in a 40 hours period. This – in the face of “risk aversion” across markets ( a market dynamic where “usually” Yen is bought – not sold). I am dumb founded – and at least a tiny bit suspicious.
Yes , yes we’ve heard the news – we know about the easing etc – but has this actually (fundamentally) flipped the safe have status of the Japanese Yen on its ass? – So we’ll see.
As much as I am a seller of JPY longer term – I will continue to watch like a hawk for my stolen 2%. The Nikkei spike “in spite” of risk aversion taking hold in U.S equities has me suspect that perhaps this move will be sold – but man! talk about stubborn!
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I understand, Japan as an island will fall into the sea, eventually ….. taking the yen with it
however, that may not occur for hundreds or thousands of years
Kong – I hopped into your USD/CAD short trade this morning. Pulled some more coin off the table. Guess I could have held on for some more but you just can’t complain about collecting more than you put in. Nice call.
Nothing wrong with taking profits – in fact……it’s the best.
There is always another trade, and you can always (as I do) bank’em and jump back on.
Once trend is clearly established – I more often than not jump down to smaller time frames….and trade the hell out of things.
Great work.
Loving the yen trade. Won’t find an easier set-up.
Cheers.
I forget the time frame exactly, but in the past wasn’t there some easing announcement like this and when everybody realized it didn’t mean jack squat, stocks fell 40%? Was it back in the 90’s? Oh hell, i don’t know, but i remember the “event”.