Closed both yen pair trades
AUDJPY @ 90.38, -165 pips
USDJPY @ 94.25, -136 pips
There is usually higher volatility as London closes, between 4 – 5 pm London time, but today’s move is very inexplicable. My stops are actually a bit lower, but with this kind of action on a late Friday afternoon means a high chance of gap moves in the same direction on Monday. So better to exit.
These are shitty markets to trade. I’m concluding that it’s really better not trading between 25 May and 15 July each year. There is truth to the old saying ‘Sell in May and go away’.
I really have to re-think my entire strategy, analyse my trading more rigorously. I’ll write more about it over the weekend.