Wednesday 24 June 2009

Getting Scalped By The SNB

How ironic life can be. I was just writing about my jumbo loosing trade when I glance at EURCHF 1.5200... then 1.5198 .... then 1.5193 (my breakeven's at 1.5188 at that point). Finishing last sentences. Glance again 1.5240! I thought no fcuking way. Then I thought about what I wrote earlier today.

"But I think odds are on my side for the moment, unless they take the unprecedented action of ramping it up again tomorrow to 1.53-54 area :S"

And by god did they ever surprise the market and me. It's counter intuitive to expect 2 interventions of 140 pips on one day. Also most people seem to think like me. Big upmove, let's short a bit. Well. Not looking rosy at the moment. But I put the loss I was building aside and just thought, OKAY, where would I stop selling and when would I start again.

That led me to the two 20 pips scalps below. It's not good. But it's better than having 600k position against me as I did yesterday - I now only have position of 200k. This is progress surely. And thanks to fact that I scalped twice the breakeven of that is showing 1.5360 now. So the loss is taken. Now let the elevator descend to 1.5080 please. I'll be patient this time I promise. :D



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