With the surprise negative US GDP print, I’m sure that markets will turn. I’ve decided to exit to protect my profits. closed all trades as follows:
Closed EURUSD long at 1.3547, +62 pips, +6.1%
Closed EURJPY long at 123.25, +101 pips, +6.9%
Closed USDJPY long at 91.00, -12 pips, -1.2%.
Surprisingly, the account is still negative for the week! The higher leverage on the EURJPY shorts earlier in the week produced losses greater than recovered today ;-(
I will now stay out until after the FOMC statement.
p.s. It’s always a bad idea, on many levels, to trade in the first few minutes after an important news event, in the heat of the action. My exit levels today confirm this, again! 15 minutes after the event the prices are a total of ~60 pips higher, which makes a significant difference to the account. My intrinsic nature is to fret about such things and try to micro-manage every last pip out of each trade, but lately I’ve become more philosophical. I look at the outcome as the glass half-full, not the glass half-empty. The outcome I got is pretty damn good, so I’ll be satisfied and happy. 🙂