Back in 2006 or 2007, I was trading GBP/JPY.
Remember the good old carry trade days?
I opened up FXCM's trade station one Sunday evening. Immediately when the market opened, I shorted a shit ton of G/J for no real reason. Within 20 minutes, I made $5K. A couple of hours later, I realized that I could have made $15K if I had been more patient. Oh well. I made about as much money in 20 minutes as I had made in the whole of the previous year. I am invincible! That night, I took about 5 of my friends out for dinner and drinks. Spent about $150.
2 days later, same feeling of invincibility and traded G/J again. This time, lost $18K in a few hours. Ouch! That feeling, I will never forget. It was over 50% of my account. To this day, I'm scared of G/J. I will trade it but I am always cautious with it. I rethink every trade idea I have for this pair
What's your most memorable trade?
Remember the good old carry trade days?
I opened up FXCM's trade station one Sunday evening. Immediately when the market opened, I shorted a shit ton of G/J for no real reason. Within 20 minutes, I made $5K. A couple of hours later, I realized that I could have made $15K if I had been more patient. Oh well. I made about as much money in 20 minutes as I had made in the whole of the previous year. I am invincible! That night, I took about 5 of my friends out for dinner and drinks. Spent about $150.
2 days later, same feeling of invincibility and traded G/J again. This time, lost $18K in a few hours. Ouch! That feeling, I will never forget. It was over 50% of my account. To this day, I'm scared of G/J. I will trade it but I am always cautious with it. I rethink every trade idea I have for this pair
What's your most memorable trade?
