- P&L setback the past 2 days.
- Was long USD/JPY as hedge against rest of Core Book which was Risk Off. Took off the hedge at 78.33. Reason - got greedy because wanted more naked exposure to Risk Off which was rewarding me handsomely.
- Cutting loss on the hedge was big mistake. I should have known better. Threat of BOJ intervention + Japan does not need stronger JPY = Hedge loses some money when rest of Risk Off is doing well + Hedge makes back alot more when Risk Off is suffering.
- Also stopped out short S&P and Corn yesterday to reduce Risk Off exposure. Protect what I have left.
- Lesson : 1 tinker too many.
2 comments:
I always feel that you enter a trade too late. Just like you sell GBPUSD and EURUSD trade. I had actually shorted GBPUSD at 1.6040: http://tradingeducationprogram.org/2012/05/18/gbpusd-open-sell-trade-13/. Do take my comment positively, just trying to help.
Well, not everyone is as clever as you are, always selling at the top and buying at the bottom.
Post a Comment