Friday, November 14, 2008

May be a nail-biter

USD/JPY has wound itself into a pretty tight range overnight. I'm playing for a breakout higher, and I only need 40 pips to know if I'm wrong, so this position is pretty big.

Pending order(1): Long 12,494 USD/JPY at 97.29
Pending order(2): Short 6,247 USD/JPY at 97.69
Initial stop: 96.89
Initial exposure: 40 pips, $49.98 or 15.00%

Current closed equity: $333.20
Current position: flat
Current exposure: 0

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