every one knows that the USD is going up compared with the Japanese yen (JPY) so i gave it a go
I took out I unit at 106.7 - it didn't sound to much ........ didn't know that it was in Japanese currency or that it takes 94 AUD to buy 1 JPY..........
I think this the way it goes 106.7 x 94 = $ 10,029 aud - which was the amount I had out............. I had my stop, but based on the amount i was prepared to lose not on a percent calculation of the price ....o/a it cost me approx. $200 as I stopped out at 106.5 .... it works out at a 2% stop/ loss margin........ obviously not a large enough margin as it happened very quickly ..... jongo might pick me up on my maths here, but that's how I see it..
next time it will be a smaller amount with a wider stop / loss as normal for these sorts of things .... don't know if that's possible for USD/JPY
the other thing I noticed was that the spread to enter and to exit was about 3% which I noticed after the event...
