6:50PM: went short 1/4 EUR/JPY @ 162.33. 6:51pm: shorted another 1/4 of size @ 162.38. 6:53PM: shorted 3rd 1/4 of size @ 162.43.
I dont have a Forex account. I trade currency futures. For example, to short the EUR/JPY. Could I sell the EC future and go long the JPY future? Would that be the equivalent trade. The EUR/JPY future is just too thinly traded so actually trade that contract.
I have never done it that way, but I would do it as follows. At current price shorting 1 unit of EUR/JPY is equivalent to: short 1 unit of EUR/USD, and short 1.5950 units of USD/JPY. The number 1.5950 is current price of EUR/USD. eur/usd and usd/jpy are negatively correlated (I assume that you are aware of it). As Atticus noted in the past, you may want to look at CHF/JPY as it does not have the impact of carry trading. I have been trading somewhat not careful lately and busy with other things which does not help, but losses should push me to be more alert.
7:44pm : closed 1/4 at 162.31 for a meagre 12 pips gain. Plan to reload if highs are retested and fail. Also I have a quarter I did not enter. There seems to be some support in area of 162.25. We will see if it will go through it.
8:13PM: re-entered the short 1/4 I covered on EUR/JPY. Back in at 162.45. 8:34Pm: took 21 pips gain on the above quarter. Leaving two other 1/4 in. Would re-enter two other 1/4 on re-test of highs and fail if any.
10:29AM: shorted a 1/4 of intended size of EURY/JPY @ 162.80. 10:39AM: shorted an 1/8 at 162.90. Plan is to meet sometime before end of week at 162.00 station.
It is going slow. So I just closed the above two positions @162.73 at around 11:55PM for 7 pips and 17 pips gain respectively.