Japan intervention ruins my day

[skid-z]

I had just placed a sell order on the EJ and was placing my SL when out of nowhere the price rallies through the roof. I closed the trade as quick as I could but came out losing 16% of my account. Apparently Japan had sold off 500billion yen to slowdown their economic recovery. Talk about bad timing.

 

Anyone else get caught by this?

Edited August 4, 2011 by skid-z

[4xgump]

My stops always go in with my entry orders. If I don't know where I'm going to get out when I'm entering, then I have no business

entering in the first place.

[swordfish]

Spikes are my friends

 

It was one of the better nights for my GRID system trading GBPUSD. 5 shorts and one long, all winners. As you can see, the JPY spike triggered my TP on the 3rd trade.

http://i162.photobucket.com/albums/t269/julianblo/Grid_08_0504Aug071453.gif

[agni123]

Is there a way to know about these govt interventions before they happen?

[4xgump]

Is there a way to know about these govt interventions before they happen?

 

No, governments do not want to tip their hats to the world.

[4xmeter]

No, governments do not want to tip their hats to the world.

 

YES, subscribe to the "International Forecaster" by Bob Chapman.

[iwjw]

No, governments do not want to tip their hats to the world.

 

Since the inception of forex, there has never been a clearer statement that BOJ will intervene. U/J was trading near historical lows and I really can't understand that any1 would go long jpy in an area where we had an 800+ pip rebound off the lows back in march

[JuanPablo]

Since the inception of forex, there has never been a clearer statement that BOJ will intervene. U/J was trading near historical lows and I really can't understand that any1 would go long jpy in an area where we had an 800+ pip rebound off the lows back in march

 

that sucks.

[rezaul4040]

Hi

Japan is to worsen day by day.