DislikedHey FX, I've taken a lot from reading your analysis and I imagine other people have here as well. You got one wrong.....so what? If anyone was blindly following your calls without understanding the rationale behind them then it is their fault if they lost, not your responsibility.
An economist is an expert who can explain why the things he predicted yesterday didn't happen today.
What I would say to you is try to understand why your analysis was flawed, learn from it and become a better trader. Nobody gets it right all the time, all you have to do is look at the financial pages in the broadsheets and see how way off base they are most of the time. Some were predicting the rate cut would pave the way for Dow to hit 15k and above, but you can bet your bottom dollar (and if it is your bottom dollar you should have used better MM!) they'll still be in jobs today printing the same old crap.
So FX Petra, why did GBP/JPY decline following the rate decision?Ignored
In simplest terms, Wall St. poked its lip out like a big fat baby, mad that the discount rate was not cut by 50 points. I thought there could be a little adverse reaction, but nowhere near the 300 point rant that they went on. The FXCM "expert" wrote that a 25/25 cut would "maintain the status quo". So much for experts. I was short at the announcement, anticipated the 25/25, and shorted again after 100 pip drop, and waited for the reversal (or at least bounce) that never happened. Genuis, right? What hurts the most is that I had just one week ago passed the level in my account to be able to trade 2 std lots per trade. Once again, perfect timing. On the bright side (if there is one), I am still alive...I did not blow my account! Christmas won't be quite as large as I hoped (I had big plans), but I live to trade another day.
Thanks for your help, birdt. I always enjoy your posts and they have been a big help to me. A pray you have joy and happiness during this holiday season.