Tuesday, November 25, 2008

A tale of two trades

Sometimes trading is about not making a mistake. On this day, I couldn't understand why I couldn't get something to move in my direction only to realise, too late, that there was a huge drifter further down the field. My mistake was not paying enough attention to the full market. I lost a bundle by not checking and blindly going about my business. Doh!

Later on I made another "mistake", I hung on late to get something filled and went in running. Sounds dangerous but if you know what you are doing its ok. On this occasion I did intend to take it in running. As luck moved against me earlier it repaid me with interest this time. I tried to get something filled at 16's and to my suprise it got matched at average odds of 41. A nice end to the day!

Never beat yourself up too much if things go wrong. Stay around long enough and over time all these sorts of things balance out.