Monday, September 3, 2007

Reporting Some Losses

I guess since I crow about profits, I should also disclose some recent currency trading losses. I mean, that is the whole game right, win some and lose some. The key is to make sure you regularly win more than you lose.

B EURUSD @ 1.3643 S EURUSD @ 1.3649 = 0.60
B EURUSD @ 1.3638 S EURUSD @ 1.3605 = -3.30 (S)
B EURUSD @ 1.3634 S EURUSD @ 1.3619 = -1.50 (S)
B EURUSD @ 1.3630 S EURUSD @ 1.3619 = -1.10 (S)
B EURUSD @ 1.3627 S EURUSD @ 1.3619 = -0.80 (S)
B EURUSD @ 1.3611 S EURUSD @ 1.3617 = 0.60

The four stop orders were the positions that I had left open over the weekend. I recently blogged about leaving those positions open without having any stops in place, so I was happy to add them in when the market reopened.

What does get frustrating is that it seems that the price will drop right down to your stop point, sell, and then rebound back up. I guess this is the whole point of developing discipline. I know it is imperative to protect your capital but it still can be annoying to see this behavior.

Perhaps my new found ability to set price alerts will let me analyze things in time to decide whether or not to remove a stop order.

Onward with my Forex education...

No comments: