The truth is, you lose money....so i can make money! +$192

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Today I saw the madness of the market again. 

The session started with quietness, no significant movement then near the NY session, there was news saying BOJ stating there will not be any helicopter money...

which was already stated last week, and nothing new at all, however, the USD/JPY and all JPY pairs dropped 100 pips or so, USD/JPY went to almost 200 pips drops. 

I laughed, could this be possible? is market really this crazy?

Of course, i got in and bought at the low of the session, and now holding the trade again. 

10 minutes later, the news came in saying that the comment from BOJ was from the interview back in  June...


So basically, market reacted to something not only has already stated in the past, but without even confirmed whether it’s a new piece of information or not, in a most violent way. 


Then i realized this is exactly why successful traders can make so much money, because of the 95% of people are really, truly irrational. 


As mentioned, my mentor Nick doubled his account during the Brexit result in one day. 

But why can he do it? Because the market was reacting irrationally which gave him big opportunity to make money. People were buying GBP like crazy, and the higher it went, the more afraid the crowds were not to miss the action. 


I guess at the end of day, it’s always good to remind myself that i’m in the business of trading and trading is a zero-sum game!

The more people lose, the more chance I’ll have to make money.


And no matter how much teachings and informations are available, at the end, losers will always let the emotions take over their logic - which is how I know that I’ll never be out of job, because the human emotions are repetitive, predictable and irrational. 

I got out of my GBP/USD trade today with small win; still in NZD/USD & USD/JPY but not yet updated to the newest position, check out my orders/updates. I'll post a new snapshot tomorrow.