Wednesday, September 14, 2011

Fools rush in


Sold in a rush at the end of the trend.
On the Monday everybody else was selling in a frenzy so I did too, the spread widened to around 20 from it's usual 7 ish.

Covel's book says it's alright to jump in at the tail, because you don't really know if it's the tail until it's over.

This goes against Big E's method (Trading Made Simple) which has been going ok (overall slightly positive).

Convinced of the fundamental Greece default and inevitable weakening of the EUR.
This trade was in along with a EURUSD - combined they hit 10% of total equity (-$40) so I had to pull one of them.

Still waiting on Sive's prediction for the EURUSD to drop

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