You must do the things you think you cannot do.

- Eleanor Roosevelt

Sunday, July 25, 2010

Stress

I should've taken profit when it hit 1.2960, but I'll take it today instead. That's 36.9 pips in what could've turned out to be a mess. But, I kept myself calm by reminding myself of the US bank stress tests. They wouldn't let the Euro down. I'm not sure traders will respect the tests, though. And there's a strong downtrend...we'll see. (Act: $36.77; 31.5% gain)
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2 comments:

  1. AnonymousJuly 28, 2010 at 6:59 AM

    So you let it go nearly 100 pips against you because you had a gut feel opinion about the stress tests to then take a 37 pip profit?

    Good job I'm only working part-time or I would have had the time to call you an idiot (in a constructive, polite, well-meaning sort of way).

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  2. ANONJuly 28, 2010 at 2:54 PM

    I completely agree with you.

    I did have my profit target at 1.3, but that doesn't matter. One of these will run against me for more than I can sustain.

    Same thing happened today. 9.3pips with a ~35pip drawdown.

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