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Thursday, July 2, 2009

E/Y, G/Y Shorts Closed

Prices have moved significantly after the NFP results were out. So I decided to take profits and close out the positions. My original TP was much further, but after such sharp movements, there's a tendency for a move in the opposite direction. So I decided that I should probably close out the trades and perhaps look for another entry.

If I had larger positions, then I would be looking to close out a portion of the position and let the rest run, perhaps on a trailing stop. But I'm working on half-minilots, the smallest possible for my Saxo miniaccount. So there.... decided to close out the positions for now. (Yes... prices are still dropping somewhat right now, but I've decided to take some profits for now)

So the trades are as follows... all triggered by limit orders last night:

EURJPY
Shorted at 136 (Limit Order)
Closed at 134.84 (Manual)
Profit 116 pips

GBPJPY
Shorted at 159.65 (Limit Order)
Closed at 157.23 (Manual)
Profit 242 pips

SP500
Shorted at 930
Closed at 903.27
Profit $26.27

So its a pretty good trading day. It pays to be patient, and not have itchy fingers. In fact, my itchy fingers caused me some dough last week.

For the closing of this trades.... I struggled somewhat, because my original Take-Profit Levels are further. I just hope I don't end up kicking myself later. :P