The market is very nervous, reacting excessively to every utterance at the G20 meeting. I am tired towards the end of the week and with the USDJPY hedged, I don’t feel like taking on any more risk. I have closed the EURUSD long at 1.3345, a loss of -10 pips. At one stage just 20 minutes ago this was more than 30 pips in profit! ;-(
The EURJPY has had an even more breath-taking move. First a swift rise to 124.10, and now at 123.25! I was positioned correctly in this, but unfortunately got out at the worst possible level, converting a 50+ pips profit to a -6 pips loss! 😦
This is what carrying a deeply underwater position does – messes up judgement and decision-making.