Seeking Alpha

Cerebro1's  Instablog

Cerebro1
Send Message
I am currently working as a Market Analyst at the Trinidad and Tobago Unit Trust Corporation. I was previously responsible for the TTUTC Universal Retirement Fund. I am a graduate from the University of the West Indies with a Bsc. in Actuarial Science. I am currently completing the CMT... More
My blog:
CEREBRO
  • Bulls Make Money, Bears Make Money, Pigs Get Slaughtered 16 8 2012 1 comment
    Aug 16, 2012 3:04 PM

    I took a long position on EURJPY a couple weeks ago and it finally hit my profit target. Patience is a virtue. If any trader tells you that he's a 100% sure on a position, he a liar.

    EURJPY was falling at the same speed as EURUSD and became oversold the same way, giving me the incentive to monitor an enter. I had taken the position earlier but it hit my initial price target and then I got stopped out at break even. The opportunity returned and I decided to go for it. Little did I know that I jumped on a 2 week roller coaster.

    In the end it worked out. Today I hit my initial profit target and it's a wait and see for how far up EURJPY can go. My bet is 100.80-101. Although I take long positions in the short term, I am still of the view that winter is coming. Perhaps in September.

    Over the next 2 months my view on EURJPY is that it will hit a wall @ 100 and re-test lows of 95.

    Themes: Forex, FX, Europe, Japan, Yen, Euro, EUR, JPY
Back To Cerebro1's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (1)
Track new comments
  • looking forward to September and all it will/won't bring.
    27 Aug 2012, 03:42 PM Reply Like
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.