Never buy or sell on news. Why? Because you don't know what the market's opinion of the news is as it relates to their money. Follow the prevaling trend after strong news. That is a common mistake with the news, but what I can't understand is, if you were losing shorting the pound and had to close to reverse your position; and after doing so you profited... You closed out your profits and placed another sell? Why? It probably wasn't a bad call, however it was premature. So it cost you twice. What are you using to signal reversals and trends?
Quoting m00jimanDislikedFriday could've been good for me, but dammit.
I had sell before news, then i stopped sell, and bought gbp. went up, good good. Sold again. Market moved up, had SL at 9720, it hit 9726 and tumbled to 9510.
CRAP!Ignored
A. Finesse Williams
Making Millions One Pip At A Time!