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GBPJPY

Coffee thoughts of the day 29-April-2009

by Gav Leave a Comment

 

I am not going to post charts today. In summary, my Long positions of GBPJPY and USDJPY were slaughtered , Long AUDUSD made it all back with additional profit.Read my twit here. 

If you live or visited Melbourne, Australia before, you should know about our most ‘Fabulous’ and ‘efficient’ public transport system. Let’s only talk about Tram here. With a 10 times 2 hour ticket, each trip will cost you $2.90, and without a valid ticket, if caught, a fine of around $120 will be charged.

I am not working for the transportation company, I do not care if they are making profit or loss. However, does it do you any good by not paying for the ticket? Let’s assume you travel from home to office everyday, and what is the Risk reward ratio and accuracy here?

Talking in the trading language, each win will give you $2.9 profit. And each loss will cost you $120. How accurate does your system need to be in order to win the game? You need 100% winning rate. I have prepared the following table.

tram_trade

Why do you even bother to take this trade? I don’t get it. Maybe the feeling of winning (not paying and not being caught) covers the fact that risk reward ratio is not with us. Relate this to your trading, how are you doing? And, whether to pay for the tram ticket or not, it is up to you 🙂

Filed Under: Trading Journal, Trading Lessons Tagged With: AUDUSD, FX, GBPJPY, Trading Journal, USDJPY

One day trades-chart : GBPJPY

by Gav Leave a Comment

Here is one nice chart to show. Two day trades, 1 stopped, another with couple of Rs. Small positions, still playing around with new setups.

[photopress:_GBPJPY__27_8_2008_1.jpg,full,1]

Filed Under: Trading Journal Tagged With: FX, GBPJPY, Trading Journal

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