Back in July of 2008, I traded the EJ only. I remember shorting as price rose towards an all time high. It started for me trading 10cent positions, and before you knew it I was in for 16.00 lots.
I remember seeing it raise 100 then 200 then 300 and even 400 pips against me. I was like WOW, when is this thing going to stall and fall.
I held and held for weeks and weeks, waiting for it to turn. I actually was only 80 pips from the very extreme high, and when it started it's way down, I was like NICE.
That was back when EU was at 1.6 and seemed like the sky was the limit with no end in sight.
Then the market took a crash and price just dropped fast and hard.
It always drops harder and faster then when it goes up.
I was running about 7K in the hole when my account turned around and I made break even.
I took some profits and exited WAY TO EARLY, but continued to sell on the way down.
If I had held the shorts I would have made 100K in that drop, but I was extremely happy to clear out those losses and make some.
Since then, I will add to trades up to 3 positions, then start to close out losers when it goes against me.
Keep your head in the game, be patient and do not add till it hits each major resistance area.
N2
I remember seeing it raise 100 then 200 then 300 and even 400 pips against me. I was like WOW, when is this thing going to stall and fall.
I held and held for weeks and weeks, waiting for it to turn. I actually was only 80 pips from the very extreme high, and when it started it's way down, I was like NICE.
That was back when EU was at 1.6 and seemed like the sky was the limit with no end in sight.
Then the market took a crash and price just dropped fast and hard.
It always drops harder and faster then when it goes up.
I was running about 7K in the hole when my account turned around and I made break even.
I took some profits and exited WAY TO EARLY, but continued to sell on the way down.
If I had held the shorts I would have made 100K in that drop, but I was extremely happy to clear out those losses and make some.
Since then, I will add to trades up to 3 positions, then start to close out losers when it goes against me.
Keep your head in the game, be patient and do not add till it hits each major resistance area.
N2
........
like I said I wouldn't like to be here but I have being here before and have manage to get out, stewrite use to tell me that I was an artist because I could spend months in a drowdown and then come...
