The purpose of this blog is to track my currency trading results. I will endeavor to keep this updated with results of trades, reasoning behind the trades, and other useful information about the topic. ------------------------------------------------------ This is not investment or trading advice.
Wednesday, March 18, 2009
Trading results 3/18
Another crazy day in the currency markets. The Federal Reserve crushed the dollar by announcing that they will buy $300 Billion in U.S. Treasury notes as part of a quantitative easing. This event would've been a non-starter for the account but for some reason I decided to take winning sides of positions off the table. This was categorically the worst strategic decision I could have made, unfortunately I didn't realize this until a couple of minutes later. Once I started to comprehend that I was now in possession of large, losing trades without anything to offset them it came down to watching my account drift its way into a margin call with nothing I could do to stop it but hope. Net result, loss of most of my capital. Bright side, no more losing positions to try and trade around. Luckily tomorrow is another day.
No comments:
Post a Comment