Profit taken on USDJPY trade

I recommended selling USDJPY in a post on the 25 Apr 09.

My order to sell was hit at 99.25 a few days later on the 1 May and I just took profit today at 95.85 - a 340 pips profit.

I had to wait for more than two weeks for this trade move over 99 and come back down. But I guess the wait was worth it.

Volatility hadn't been enough to cause me a heart attack and fundamentals (as explained in that post) gave me the confidence to hold this position for the two whole weeks.

The only scare came as USDJPY hit a high of 99.74 on the 7 May, just 10 points shy of my stop loss order before it crumbled back down and never looked back. I guess it is rather important to not place the stop in a 'hot zone', where the price tend to congest as chances are that your stop loss will be hit out of volatility.

In this case, the stop was placed above the previous price surge and my trade was safe. Or else, it'd be shameful to say I had the right view but could not profit on it.

Hope you have been profitable too.