Wednesday, August 10, 2005

Holding Yen for a Profit

"Koizumi's job approval rating rose 9 percent to 46 percent this month despite the defeat of his plan to sell the nation's postal service."

"The advance of Nikkei beyond 12,000 is a significant breakthrough as money is flowing into Japan from overseas investors."

I've been holding a yen position since 4/8 amid uncertainty over recent issues. Now, I can see some light on the position as it finally creeps in for a 30-pip profit at the moment. Although at one point, the drawdown was almost at 140 pips just two days ago! Is this a kind of endurance which is needed for swing trading? I am still questioning myself. Maybe in this case, it is definitely not for the faint hearted.

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