Discipline – The Trade That Got Away

I want to continue with my trades long JPY.

I want to place these trades (a few short pips underneath current price action) in currency pairs such as EUR/JPY and GBP/JPY. I want to get short NZD/JPY as well AUD/JPY not to mention CAD/JPY. I want to push a bunch of buttons. I want to enter a bunch of orders. I want to do it right this second! Right here! Right now! My god let’s do it! Do it! DO IT!

But no……….I can’t.

I’ve got patience. I’ve got trade rules. I’ve got plans.

I’ve got millions of trade opportunities in front of me, and a lifetime of trades –  lying in wait.

Most importantly of all. I’ve got discipline.

I’ll sit tight here a while longer and see how things shape up come London open. Frankly, I’m not satisfied with this correction in Nikkei and JPY and still feel there is further downside in risk. I still have reservations about taking positions of any reasonable size so will stick to my guns….and stay on the sidelines.

 

4 Responses

  1. Deano April 2, 2013 / 9:35 pm

    Bloddy hard isn’t it? I think I’ve got most of those JPY setups myself, but the Yen is a fickle beast and I’ve already got a full book according to my own plan and rules. So unless I got a free slot in the portfolio they’ll be passed by, sigh. But I’m looking for the Yen to strengthen to around 91 in the next few days, so patience for the long setup may pay off.

    • Pot Stock Watch April 2, 2013 / 10:48 pm

      Sounds like you’ve got things rockin n rollin over there Deano! – Right on.

      I guess we can’t trade em all. I’m sitting in cash so would love to put money to work.

      I love trading JPY these days….but maybe not tonight.

  2. Umar April 3, 2013 / 8:10 am

    ForexKong any chance of getting your trades? Thank you.

    • Pot Stock Watch April 3, 2013 / 8:15 am

      Hi Umar.

      Im up n running with twitter as well stocktwits as of this morning. This is a creative venture for me, and the idea of typing numbers/decimals/levels/entries/exits/ sickens me deeply.

      I imagine I’ll have to bend a little here , but for the time being – offer you the best real time documentation of my trading that I can.

      Stay tuned – as “the forces that be” may soon get the math.

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