Wednesday, 14 July 2010

Also must point out ...

that three days ago I made a reasonable decision to short EUR against SGD (singapore dollar) and an excellent decision to go long on cable at the exact point it rallied, but sold out the cable trade with a very small profit whilst keeping the EURSGD short running. Unfortunately both rallied on the back of a bond sale/risk appetite increase and I was faced with the gutting sight of the GBP on a 1.5 cent rally whilst my short was closed out with a hefty loss.
Backed the wrong horse -"ran my profit and cut my losers" ho hum

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