Thanks for the tip. I usually get out a good 20% above/below the general range on my range trades and try to get in positions higher or lower than that. It allows me to keep tight stops and still go for decent profits. These ranges have been like taking candy from a baby the last couple days. Getting burnt once wouldn't even leave a flesh wound and it's bound to happen once. I'll have no problem flipping my position
Well, for some reason my order didn't fill as the price traded THROUGH 161.35 so I had to cancel it and go to market. Short EUR/JPY now at 161.367
$2,000 per box; $20,000 account limit. I have a sell on EURJPY at 161.70. Perhaps we should limit this thread to JPY crosses rather than simply GBP.
If everyone is in agreement then fine by me. I trade most all of the JPY crosses. Some semi-auto so I could do some live calls on them. Any reading material on currency options?
I just took profit on my G/J longs at 215.31 for a 97 pip gain. I'm not confident enough to sell it, but it seems lofty here.
http://www.amazon.com/Options-Structured-Products-Wiley-Finance/dp/0470011459 I've not read it, but he's well-regarded.
I would just sooner the thread stick to GJ, as all other jpy crosses are correlated to an extent. Keep it simple.
closed at 215.42 +40pips. Too much event risk with the BOE annoucement (i think they'll cut, which will pressure the cross)
Just shorted at 215.65 I'll be awake just prior to the BOE announcement and keeping a close eye on this one. Target is set to 214.65 I also have an order in to buy at 214.00 and stop/flip position at 213.40