...are often quickly dashed to pieces by the markets. The USD/JPY short didn't survive the morning. We've experienced quite a little rally in risk-assets. With the massive rally in stocks, I would have been surprised if a long Yen position had survived, even considering the recent changes in the Yen's relationships. The USD/JPY used to be very strongly correlated with the S&P, but that correlation has been noticeably breaking down of late. Intermarket relationships do change... even longstanding ones. It's a new era!
Short 1868 USD/JPY at 89.75 stopped out at 90.26 for a loss of -$10.61 or -5.62%
That was a big fat position to lose straight away... but that's trading.
In other news, the Long EUR/USD trade has triggered, and is sitting nicely profitable so far. There's still time for a reversal of fortune, but for now we're looking good.
Long 388 EUR/USD at 1.3687 with stoploss at 1.3564
Go Euro! (At least until Monday at 1am!)
All open trades are currently profitable, which is a nice place to be for a change.
Current account equity: $188.87
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