The USDJPY trade call was a losing trade. Based on the mandate given on 15.01.2013, I mentioned that I would be looking to short the USDJPY. I did short the USDJPY and my joy was somewhat short lived. My positive pips vanished on the 17th January 2013 as soon as the Japanese Finance Minister retracted what he said earlier about the Yen being too weak in a short time is not good for the economy….
Like all bubbles that burst, you cannot go on, on an endless winning streak. If not careful, it would inflate ones ego and cause more harm in the future. I have known some companies which stress on zero losses which I think is a recipe for disaster. What if the student hold on to a trade which is doomed? A busted account……
Here are the trade mandates given on the 14th and 15th of January 2013 and their results:
EURUSD – profit 111 pips
AUDUSD – profit 74 pips
USDJPY – loss 80 pips
Net profit – 105 pips