Tuesday, February 14, 2006

Closed out the Short Sterling Dec '06...but not happy.

OK as i mentioned in yesterdays note, I closed out the Dec '06 Short
Sterling today, but not exactly to plan.

I'd planned to sell out of it before the inflation report, thinking
inflation might be high, but I never got a chance to do that and
inflation came in low, pushing the market even more in my favour. I
closed it at 95.51 (market ended a few ticks higher than that), but
despite making £375 I should have made 4 times that. I had wanted to
have on £100 per tick as I'd originally mentioned but waited for a
better entry point on the balance.

Not having a well-thought-out trade on that makes money feels even worse
than having losing trades on! So the lesson from this one is to have
more conviction, and to make sure I don't miss out on trades I believe
in!

That's it, just a short one today, but also note that on the back of the
inflation report, GBP got killed again...hoping it ends the week at
173.50 so bang on the strike of my option, but we'll see. Being short
this is a trade for the long term.

3 Comments:

Anonymous Anonymous said...

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17 May, 2006 07:29  
Anonymous Anonymous said...

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17 May, 2006 12:45  
Anonymous Anonymous said...

Great site loved it alot, will come back and visit again.
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17 May, 2006 12:58  

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