Man this is so troublesome to do from aphone, but here it goes:
Eurgbp closed at 10% profit on Etoro. Now all trades are closed except our two legacy gbpchf and gbpjpy trades which are doing much better. Having gained over 1500 pips recovery. The januarys losses of 35% have now been reversed into a gain of 14%. Which means we can now work towards recovery of December’s disaster.
Account continues to be in the profit despite this being a harsh first month. We had some bad luck woth a large usdjpy trade, which sld and ate away into profits. Had it not Sl’d it would have been MEGA green (40k profit). But hats ok I guess it was a calculated risk which just did not come to fruition. None the less, we end our first month with gains in both balance and equity, which is remarkable considering everything worked against us in the first 3 weeks of the month. I would have been happy to break even, so a tw figure percentage profit makes me delighted.
Food for thought:
Boj has acted and cut rates to not only weaken Yen but also make it less attractive to hold. I suspect their intention was to reduce the appeal of the jpy as a haven asset much like the smb did with the chf by the use of negative rates. Is this perhaps the BOJs weapon of choice? Negative cuts to deter speculation on the JPY? If so i need to revise my usdjpy forecasts ( not in a straight line) for the year to:
Q1 2016 -123
Q2 2016 -125
Q4 2016 -130
I assume one further cut from the BOJ and 3 further rises from the Fed.
On another note:
Have got to say the fundamentals coming together the last two weeks has been great for my confidence and has helped me lunch the dozen new profit yielding trades you have seen in the last two weeks. After january’s opening i was left shattered wondering how my way of doing things that had worked for so long had been shattered. Then i realised it was quite frankly an anomaly and everyone got shattered (even those with 5-6 accounts doing different things), not just me.
Finally a long overdue purge of the community:
Going to permanent ban a few people who abandoned me this last month. Not ones who left because of choice (that is perfectly fine) but i mean the people who started jumping ship to the first spammers who started their nonsense ob my wall. That was very bad from them in my opinion to support such behaviour how they did and it was very painful for me to see that betrayal. As a result they are no longer welcome to the forums or any other services I do. Hope it was worth it for them. Will take care of it when I get back to Dubai.
To everyone else, hope you are having a great day. We are looking healthier and soon look ready to begin the ascent back to where we were and beyond.