Wednesday, 26 May 2010

Fools rush in

Affected by my failure to pull the trigger when the FTSE stood at I was unable to step back to review the big picture and went short on the FTSE at ~4950* - far far below a sensible entry point. Then went in again later in the evening just before the DJ blasted upwards. As sensible move at this point would possibly have been to buy FTSE to offset the loss?

However I closed the EURUSD short in profit this morning having the feeling there was no more gain to be had, after increasing overnight. This allowed me to reduce the exposure on the short to 1.50

* based on adding 50 to SEP futures

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