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Bought NZD/CHF at 0.7650 25 pip stop.

Position closed, 10 pip loss. GBP/JPY and EUR/JPY are (were) not moving in the same direction, which is always a bad sign and a warning. Other Yen position (CHF/JPY) also closed, 10 pip loss, for a total of 20 pips. Waiting for possible re-entry on the long side this time...

Short EUR/JPY at 138.50 35 pips stop. Biggest movers so far today are the Yen and the Swiss Franc (and all their crosses). EUR/JPY and CHF/JPY are highly correlated (positively), so these two short positions make sense from that point of view.

Stopped out. Yen went down early this morning after some BOJ announcements. Short CHF/JPY at 113.27 29 pips stop.

Or for more if the option has still some time value.

The option seller (also known as option writer) is the one who will give you the stock at $10. Most of the time he already has the stock (so for him it is a covered call). Otherwise he will of course have to buy at $15 and deliver it to you at $10 per share ($5 loss per share for him), if you...

Margin call! By the way, here is how Hitler reacts to a margin call :D http://www.youtube.com/watch?v=eVB-SSkkLnY

Stop has been reduced. It is now a 30 pip stop (instead of 35).

That 113.50 support line is still holding for now...

"Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway." - Warren Buffett. "I made a killing in the stock market. My broker lost all my money, so I killed him." - Jim Loy. "Every day, self-proclaimed stock market "experts" tell us why...

"Don't worry, it will come back". This "sound" advice is usually given after a trader or a group of traders had experienced a dizzying 70% drawdown or more, Enron style . :D

Bought CHF/JPY again at 113.60. 35 pip stop. So far this is the only open position.

Thanks for your support Tiddlywinks, hope you made a few bucks for yourself :) Concerning the other pair I am currently watching (CHF/JPY - 15 min) it looks like a breakout in progress ... (text should read : "breakout line ACTING as support line") Please note that I do not trade that way, the...

Glad to hear that, ActionZip54 :p

Let's not forget the biggest myth of them all : "Markets change over time". I always want to scream when I hear that stupid phrase!

It's better to light a candle than curse the darkness. Chinese proverb.

Will dump this trade at break-even (113.50) and wait for a possible long re-entry.

What turn?? :confused: Markets will continue doing what they have been doing for centuries : go up, down or sideways. That's it.

Bank Of Japan 2014 Monetary Base Target coming up next, around midnight New York Time. Not to mention the all important Governor Kuroda Press Conference after Rate Decision (11PM EST)! This could create some serious price action... :cool:

Excellent post Maverick.