Added to position at 83.10 and moving stop higher to 83.05. Total size is now 900k running at 93% of margin.
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
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 **