Friday, 21 May 2010

Close ~10066

Although I feel once again the market has more downside considering I just recouped most of the mad, depressing losses ie just made back 20% of the fund.
How did I do this? I applied some experience of the market to the current situation and backed it with serious money - 2 GBP a point. Also I took the major step of selling again when the market came back to my level. Missed out a chance to short when the market when 30 points past my initial level, just couldn't pull the trigger. It was seriously hairy though watching the money rack up ...
One of the other things was that I wanted to be out of the market by 8:30 because it does strange things in the closing period
Made a poor decision to try and add to my GBPUSD short - must remember this is the quiet period of the currency markets and there's no money to be made here.

My prediction? ~ 10020

I have a feeling GBPUSD will appreciate quite seriously next week

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