Tuesday, August 09, 2005

Ow! That hurts!

Last night I totally disregarded cash management advice while doing a trade. The currency market spanked me for that. I lost about $300. Note to self: always use cash management techniques.

I'm working to gain it back. Last night, before bed, I bought one of each currency and set a sell 5 point up. This morning, half sold, the other half went negative by a lot. So, I bought some more at the low price and will leave them alone until prices go back to something of a profit. Due to dollar cost averaging, my sell point will be lower than the high at which I bought.
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