My biggest 2 Mistakes
1. Averaging in: I should not have averaged in my NZD longs.
2. Too much exposure to NZD: I was exposed to NZD longs against EUR, GBP and CAD.
So far, through Libya, Egypt, Bahrain, New-Zealand earthquake problems, Trichet and King lying about raising EUR and GBP rates, I was able to handle my account well but after Japan's nuclear worries and usd/jpy's crash today after US market close, NZD tanked big time and I was issued a Margin Alert on my currency account. I waited for BOJ's intervention for usd/jpy to recover and took a very big loss by closing most of my trades. I have wiped out my YTD profit and ready to start all over again.
I still have following trades but now only have 1 unit each and my targets are
NZD/CAD to test .76
GBP/NZD to test 1.995
EUR/NZD to test 1.675
When above targets will hit, I will regain my YTD profit back.
