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I agree. In the recent environment, i have just used bullishness to take profits, not initiate longs. Just feel more comfortable in playing the short side. Cant see any reason why it should go higher today.

I got out of my short at 208.16 this morning. Awaiting direction now in the US session. But looks bullish to me.

I have done well this week (only traded twice). Knowing that the market would range this week, i sold on the fed rates day, when the mkt sold off. And sold today, on a spike lower in GJ. Look at the £ today, hammered after the NFP report. So i stay short.

short 209.38 st 210.38 tp 208

Seems a perfect time to reshort

I agree with you all. Amazing really. Why not take the recession on the chin. Ok the dow was down 500points on tuesday morning futs. Why the 75bps panic. Must have been some institution gone cap-in-hand to the fed on the weekend. Talk is of another 75bps next week. Why? What do they know?

I went short at 207.4 this morning. I didnt have time to post until now. So st on BE and target 202. 205 will be blown away today. Yen strong across the board.

Big Boost up in the equity markets. As we approach the 210 level. I just dont feel comfortable in going long. So I'll just wait until the euphoria of the rate cut and the plunge protection team have run out of money and will then re-short. Again that might be the 211.50-212 level, which we...

Yes FED look stupid. Rally lasted less than half an hour. I wonder if the S&P falls another 50 points today, whether they'll cut again. Reminiscent of Norman Lamont in 1992, in the UK

I made a good call staying out of the mkt. Proves stops do work sometimes. Be real panic, if the 75bps doesnt do anything though.

Be hilarious if we fell below 1250 now. That would be a middle finger response to the Fed

stop hit -100 pips. Will stay out for the rest of the day, as in this situation I think there is a flight to quality and that means the $ will strengthen, even though, counter-logic suggests it should be the weakest of the all the currencies. Will let the market calm down before resuming...

Previous position closed at BE. Now short 207.2 tp 206 st 208.2

Wow. Like other threads I just cant believe the losses in stock mkts around the world. The makes me feel there is more to come. Its not unfeasabile for GBP/JPY to lose 1500pips in a day. I still think its overvalued in relation to other mkts. Only fly in the ointment is an aggressive...

TP hit +162 on fridays half position.

Neke, On your equity option plays, what expiry month do you trade? Do you ever have a problem with Day Trading Buying Power limitations? Regards, ForexPro

Gone short at 208.72 with 1/2 my normal size as risk reward is not that good. But it means my stop can be twice as big. St 209.72 tp 207.1

I'd like a rise in gbp/jpy to improve my risk reward. Am currrently using the equity mkts and bond mkts as a road map. But every time they rise GBP/JPY crawls upwards. On days like this you can get retraces which should be sold, but other times you just have to jump in, maybe with half...

Yes, good trades today. Am looking fwd to your real-time calls next week frank. I am waiting for a pop-up, then a sell into the close.

Congrats on those who stayed in. Gonna sell at 209.50 on a bounce.