GJ has always been an exciting trading pair. I am always reluctant to focus on this volatile pair given its big spread. 9 to 10 pips are usual under normal trading.
On Monday (11/8/08) night, I saw a short entry opportunity too good to pass. I went in around 7:30pm at 209.18 with just 1 lot, thinking more of the high spread. It went in my favour right from the start. By 11:19pm I exited with 62 pips profit. It was my bed time and I did not want to hold any position in a volatile pair like GJ overnight. The price kept heading south the next day especially after the CPI news for Great Britain at 4:30pm on Tuesday. By Wednesday morning the price went as far as 202.48. It would have been a handsome 670 pips profit had I not bailed out earlier.
On the brighter side, getting almost 10% of the whole move was not that bad. What else could I say? At least, I had a good night sleep.
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