I just went long GBPJPY at 174.21 with a 50 pip stop loss and a 45 pip trailing stop.. the market has come off pretty strongly and I am expecting a countertrend bounce as the market seems to have found a temporary bottom between 173.60 and 174.00.. the over trend is down however so this is quite a risky trade. However, if the market does move up, I am expecting quite a handsome reward (that's if I can hold onto the trade!)
I have been trading.. or should I say, trying to trade for a long time now. My first interest was over 10 years ago in the Dot Com boom and bust... when it was going up, you could just put money in an IPO and watch it shoot to the moon. I was one of those who watched this happen and when others were making money, I thought I would get in myself and see if I could do the same. I didn't make much money but ever since, I have been intrigued and watched the markets ever since. Fast forward to
I spotted an excellent long entry and went for it, got in at 175.61 and closed it out at 177.23 for 162 points! Hoorah, that's a nice gain. I could have held it longer.. it's gone up another 20 points since but I can't prise myself off this computer when the charts are moving. I think the market has further to go.. there was a huge reversal on the US and UK markets today after all the help with the Financials from various governments.
