Maizefarmer Posted February 21, 2007 Share Posted February 21, 2007 (edited) Not strictly a Thai subject - but, Bank of Japan is going to be making some major finacial anncouncements in about 20minutes time - which are going to swing YEN curency pairs one way or the other. Over the last half hour the YEN has gone in value from 235.15 to 233.75 (against Sterling) - and stung me real bad in the process (it's biggest jump in years). Not sure if I should swallow hard and accept the losss, or stick it out and see what the Nip's say in about 20 minutes (11pm US Eastern Time) Anyone else trading - any comment from knowledgable members? MF Edited February 21, 2007 by Maizefarmer Link to comment Share on other sites More sharing options...
Casanundra Posted February 21, 2007 Share Posted February 21, 2007 (edited) I think you should 'nip' it in the bud before it gets worse. Edited February 21, 2007 by Casanundra Link to comment Share on other sites More sharing options...
Maizefarmer Posted February 21, 2007 Author Share Posted February 21, 2007 (edited) Fair comment - now tell me why thats your take on the situation? BTW - I missed the chance to "nip it in the bud" - I moved so fast - I went to make a cup of coffee, got back to the computer - ... rest is history. It's leavling off now i.e. can't see it getting any worse (damage done) - just trying to work out if theres much chance it'll improve MF MF I think you should 'nip' it in the bud before it gets worse. Edited February 21, 2007 by Maizefarmer Link to comment Share on other sites More sharing options...
Maizefarmer Posted February 21, 2007 Author Share Posted February 21, 2007 .. and what happened - well, the BOJ raised interest rates by 0.25%. You'd expect the Yen to shoot up in value against the Sterling (i.e. interest goes up = increase in currency value) - but what happened - it dropped back to 235.13. I got out 2pips higher than I could have ever expected. Do your own calcs - 2pips on £25K at 250:1 leverage - u calculate the profit. Not made for an hours work (actualy - should say pure sweat!) MF Link to comment Share on other sites More sharing options...
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