I closed my USDJPY long for +3 as I got nervous about it....this turned out to be the correct thing to do! Phew! Anyway, I noticed that the GBPJPY got stuck in a short term range, 14400 and 14373 so when it got near 14400 I shorted it.. not only was this the top of the range but it was near a whole number.. whole numbers usually form a good support/resistance so I went for it... it didn't look too good a few minutes into my trade and I had my stop at 14420. The spread with the GBPJPY is 10
Archive for April 23rd, 2009
I haven't mentioned much about my Betfair betting... or Betfair trading but it has been going quite well. So well in fact that my account has swelled 50% and also I have enrolled myself on a Betfair trading course by the Betting Exchange Academy held by Peter Webb. I am extremely excited by the prospect of this as Betfair seems to be much more easier than financial trading. With my limited experience of Betfair and taking small punts, my account has grown quite nicely. I mention Betfair tradi
I went long the USDJPY at 9796 as it seemed to have moved beyond the short term negative bias. You can see the trendlines I have drawn in. However, the GBPJPY and EURJPY have really shot ahead.. I am just about 10 pips up but if I had made the trend with the GBPJPY or EURJPY, it would be up by 50 and 40 pips respectly. It means I chose the weakest of the Yen pairs but also the less volatile. The profit potential for the first leg up isn't great, just 25 pips at around 9822 but there you are..