Trading Account

Trading Account

Monthly Trading Results

Monthly Trading Results

Friday, March 13, 2009

Mid-day update 3/13

I opened a short position this morning at 1.5380. I know, another short? I would've opened closer to 1.5400 but this entry was good enough. The pair reacted as expected and crept down until I closed for a profit around 1.5340.
Actually this is a good time to mention my exit strategy. When the pair reaches my targeted exit I close the side of the trade that is at a loss and put a trailing stop on the side in profit to see if I can catch a move on that one pair. It doesn't run every time, or even most of the time, but when it does it can multiply what would've been a nice gain by 2 or 3 times.
Its reassuring to see that absent the craziness from yesterday the premise is sound. Not expecting much for the rest of the day, Friday afternoons tend to be very quiet since the rest of the work is already enjoying their weekend.

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