USDJPY update: yesterday called it higher. Mainly because of BOJ keeping a perceived lid on The Japanese 10 year at .1 I was humbled to have some comments on LI from a few guys who know obviously know their onions.
We are now 1 big fig higher – helped of course by that crazy horse ADP. Let’s be crystal clear for those at the back not listening. The reasons i liked buying may not have been common sense to an economist, or strategist, or in fact the guy nursing a drink in the swanky bar.
As a trader my job is to look at the sum of the parts. To balance the infinite amount of probabilities and make the call. My job is to try and guess what is more likely to happen, whilst hedging risk to zero. Nothing more. Thank you for all your comments and keep them coming. The market is never wrong. Either I am wrong, or someone else is. It just so happens i was right on this particular occasion.
Watch that risk. It’s your best friend it is.
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