My views on future trades, past trades, the market and lessons learnt

Tuesday, August 08, 2006

Monday Night GBP

Ok so the GBP topped out to 9099ish so I went short based on a NY session sell it failed to go out the top of the box so shorted on the inside, also had a Nikray sell and a few others in room calling sells to.

I got in at 9090 and then again at 9095 and 9110 again. My target was 9043 It slowly fell all night long at about 9055 I got antsy and started taking off profits. It hit a low of 47 but I was tired so I closed out when it broker out of the bottom. Eventually it got back down to 35, so the 43 target was perfect.

Lesson: Should have closed out at 47 was greedy for 4 pips. Stop being greedy. -/+ 4 pips and you exit from now on. Or be a man and hold over night.