Forex Trading

Ok, decided upon having a look at the yen pairs to close a couple to lock in some money. Across the board the yen seems to be having a little turn so we could be in for some up and down ranging for a few days or even a couple of weeks.

Then again they could just bollock down and smash throught the floor! what do i know???

so, been in a few good runs so time to take some of that honey.

CLOSE CHFJPY @ 80.61 FOR +304

CLOSE eurjpy @ 119.57 FOR + 528



Results so far - January 2009 +766 on closed trades

so, the question is why did i close em when i'm a 'stick with em till the death' trader. and the answer is this.certain pairs under normal circumstances move a certain way at a certain rate. I considered that this rate was a bit over the top of late on the yens and that a hard retrace could be due.

Add to that the fact i was in 4 positions rather than the usual two or three and I think it was right to take some of that money on the table and release some risk hence almost reaching my target of 1000+ for the month.

The other two are moving more as one would expect so i'm happy to leave them running to see if they continue.

Stay Lucky.