Wheeww…. Last night was a nightmare for USD/JPY trading. Especially for those who uses martingale strategy like me.
USD/JPY got bearish on all Monday morning. It’s a normal behaviour on Asia session. Continued its rally on Friday. Untill then it bounce starting from 94.40 on London session and turned into strong bullish with no considerable retrace, not even single one. It became disaster when a few of clients’ account had to cut loss for the amount between $60 to $600 depends on their balance.
It was a trully shocking disaster. But that is FOREX. Anything can be happened and you have to prepare to receive it. The important thing is that you have to encourage your self to cut loss rather than see your account blow up. There are many other days to make profit when you still see enough balance on your trading account.
I tell you the truth, it’s a painful Monday.
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