tommiho wrote:The general question here, if someone has a multiple positions open where would someone claim the profit? Where to close them? I am absolutely tempted to leave them be and let them running. But as you all know the turn around PA can surprise you anytime. I know CJ mentioned to keep his anchor trade and close compounded trades. What do you all think? Bob was saying to enter on D1 max min, maybe to close as well? On the other hand nobody knows when this run is going to end.(well when the Japanese reach inflation is 2% of course but I wouldn`t be able to wait that long hehe)
I closed all but one or two positions on each pair and reset new pending orders.
There are three kinds of non indi trades,
News trades - take a position in and out of the market in less than two hours. Quick pop news story wont run price for long.
fundamental news trades - Will make a currency run for several days to even a week or two. Interest rate changes do this
Macro fundamental trades- This affects price action for months or years to come. This JPY is a Macro Fundamental trade. They are shooting for minimum 2% inflation rate per year and to get out of 20 + years of a deflationary cycle. There is no mystery here Japan is going in a certain direction and everyone, Parliament, Leaders, BOJ, etc. are all on the same page for now. We have known for months they were going to try. Policy is now going to be implemented. So sell the JPY and then when this run is over look to reenter. Big time trades started placing their first trades today. They will buy and hold, buy and hold, buy and hold. This is how the big boys trade. They are looking at monthly S/R levels so get on board and go. Now as a small time trader what do we do.
I want to run at least one trade north of the 240 line and see what happens. The rest TP and reenter, TP and reenter. That is my plan.
