Tuesday, 6 July 2010

Short Gold

I had one go at shorting gold earlier in the week and it didn't come off. I noticed that despite the market falling gold had not moved up so had another crack. This time it dropped by about 1.5%. Took profit at ~20% of fund size.
Also another trade long on DJIA. All stochs pointed to an oversold situation possible bounce. Index had already made 200 points before falling back. Increased exposure when original trade lost ~30pips. Took profit a little to early as didn't want to risk my earlier profit on the gold short. This is of course the usual psychological issue as it happens DJIA continued to move in the direction I figured it would.
Had recently had a set back having missed a big move on the GBPUSD when a long trade that was in profit met the stop loss I had moved to a no-loss setting (less than 1 point!!!). Also failed to go long on my other account at approx the same time.

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