Johnny was no exception—and yes, I learned the hard way (laughs).
The “Safe Answer” I Reached After Repeated USD/JPY Disasters
After blowing up multiple times trading USD/JPY, I finally learned something.
“Trying to hit it big in the short term just leads to fire.”
“In the end, slow and steady really is king.”
With that mindset, the next thing I chose was accumulation-style FX.
Buying dollars little by little each month felt almost like a USD savings account.
Sure, exchange rates still move, but this wasn’t a short-term battle.
“This should be mentally easier… and probably more stable, right?”
Little by little, I was finally recovering both my capital and my ego—
both of which had been thoroughly shaved down by USD/JPY.
A Fateful Encounter: The Sweet Temptation of High-Interest Currencies
Then one day, something caught my eye—
The Turkish Lira.
What stood out was the swap points.
Several times higher than USD/JPY. Sometimes way more.
“Wait… I just hold a position and money drops into my account every day?”
That phrase alone should come with a warning label.
When I first looked at the TRY chart, my honest reaction was:
“…Wow. This thing has fallen a lot.”
And that’s when my brain started doing its favorite trick: convenient reinterpretation.
“No way it keeps falling.”
“That means it should bounce soon.”
“And I get swap every day on top of that!”
Dangerous logic: fully activated.
At First, Things Actually Went Well
When I bought TRY/JPY, the swap points really did stack up day by day.
Even without doing anything, my account balance slowly crept upward.
Compared to my old self—glued to charts, whispering
“Go up… don’t fall…” at the screen—
this hands-off feeling was refreshing.
On top of that, maybe thanks to good timing, the exchange rate even rose a little at first.
“Wait… is this a dream currency?”
“Why isn’t everyone doing this?”
At this point, I was completely full of myself.
The Sweet Thinking Was the Beginning of Everything
Looking back now, it’s obvious.
High interest rates always come with a reason.
But back then, I conveniently ignored that basic truth.
- “Even if it drops, the swap will cover it.”
- “Worst case, I’ll just average down.”
- “If I hold long enough, it’ll come back eventually.”
In hindsight, that’s a full combo of danger words.
At the time, I didn’t even feel like I was taking risks.
“This is investing.”
“This isn’t gambling.”
That’s what I kept telling myself—
while quietly walking toward a very steep cliff.
Traps Always Approach with a Gentle Smile
- After repeated USD/JPY blow-ups, I shifted toward “lower risk” strategies
- That’s when I met the high-interest Turkish Lira
- Attracted by swap points, I started dreaming on my own
- That optimism leads directly into the tragedy of Part 2…
At this point, I still didn’t know.
Compared to “swap you receive every day,”
“unrealized losses that vanish in an instant” are far more destructive.
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