Uncle's Trading Journal

Quote from Uncle:

Added to position at 83.10 and moving stop higher to 83.05. Total size is now 900k running at 93% of margin.
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Out of everything at 83.041 and and now short 850k at 83.063. Stop at 83.13 target 82.95
 
Quote from Uncle:

Out of everything at 83.041 and and now short 850k at 83.063. Stop at 83.13 target 82.95
More...

I am not sure how I got to be short $/yen -- had a hypothesis vs. equities and tested it -- it didn't work so I am now in the opposite position.. i really don't have a feel for the Yen and I should be focusing my energy on the EUR as I am more familiar and it has tighter spreads..

This was a mistake and I will be out of my yen position shortly. As I was typing that sentence yen gapped up and is now at 83.18 -- I didn't honor my yen stop because I don't really get the yen market and had no hypothesis

I just stopped myself out at 83.20 --

I went through my 10% daily loss -- account value is now 16,975 (yen trading cost me $2,500) -- My first set up was the correct one -- moving my stop up to 83.05 instead of adding there was where things went wrong..

Same as yesterday -- should've waited a little while for yen to get closer to below 83 to place in long order so that stop could be reasonable given my leverage..

I am done for the day -- will review over the weekend and resume Sunday evening..

Account Value: 16,976
 
Quote from Uncle:

long 600k USD/JPY at 83.04 - stop at 82.95. Target 83.15
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This is the trade set up that I should've taken on Friday - taking it now -

and out at 83.145
 
Quote from Uncle:

long 600k USD/JPY at 83.04 - stop at 82.95. Target 83.15
More...

This is the trade set up that I should've taken on Friday - taking it now -

and out at 83.145

** why does ET forbid you from posting two posts quickly in a row **
 
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