Closed USDJPY long 94.85 – hit for -181 pips

1.11 gmt

I’ve finally taken the hit for the USDJPY longs also.

Closed USDJPY long at 94.85, -181 pips, -$39,820.

Account is now at $18,734.

My mind is clear now and my account is also almost clear ;-( , but not quite. It will be a hard grind up from here, but I am determined to do it, slowly and carefully. But for the next few sessions I will stay out and collect my thoughts. I hope the small AUD long I have doesn’t give me too much grief.

Many lessons to learn here:

1. The most important, which I have to learn again and again, is that the first loss is the best loss. Take the first loss, however steep it may seem at the time. I wish I had some mechanism like an electric cattle prod, that gave me a 100 volt shock each time I am about to break this rule.

2. Beware keeping positions open over the weekend.

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6 thoughts on “Closed USDJPY long 94.85 – hit for -181 pips

    1. ZenFXTrader

      I don’t know what you mean, and don’t know if you’re serious or mocking. I haven’t won, I’ve lost almost 90% of my account from the start of this year. This is not a game for me, it is living money. Sure, nobody could foretell the Cyprus event, but the charts do give warning: If I had heeded my chart rules I should be short EJ from about 124.35 and short UJ from about 96!

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    1. ZenFXTrader

      Ah, you’re right. Also $7k in February. After that withdrawal I reset the account to starting level. I measure from month to month. Money taken out is spent, and I don’t want to have to put money back into the account. Thanks for your good wishes!

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  1. judy

    “Beware keeping positions open over the weekend” that is true.
    I made some mistakes last week so that my account is impacted a little bit, not too much. I’ve never heard of Cyprus:-) until now. I think the market is overreacting. but who knows.
    Anyway, good luck!!!

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