Friday, 25 June 2010

Broke my 10% rule again!!!

I was correct down to 14856, unfortunately I ignored my 10% rule and paid the price with the currency hitting 14856 at it's lowest level before rebounding up past my initial sale point and up past the morning's high to 15000.
I set my stop really rather too high - I mean, once past the day's high a decline was unlikely. The problem comes once again that I cannot really see what is going on except through yahoo, but maybe my problem is breaking my golden rule in an attempt to hold a position. I believe that if you are going to do this, once in a large profit one should set the stop to a nil profit or loss and accept the consequences.
Made a little back this evening but trading in this short time span is little more than playing a video game.

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