Unless you’ve been hiding in a cave, you havent seen how the JPY crosses have been moving in the last few weeks.
Yesterday a fellow trader asked me what my thoughts were about those moves, and if I thought there was still a chance to go long, you know, the market might retrace, etc.
That reminded me something I read somewhere (cant remember where):
The market is never too high to stop looking for a buy, or too low to stop looking for a short.
Ever since I read it, it made total sense to me, and I adopted it almost as my motto…
So don’t be afraid to get caught in a retracement, because you are going to miss the whole move. I rather get caught in a retracement than watching those kinds of moves on the sidelines…
What are your thoughts about this?