Monday, March 22, 2010

Trade as usual

After a 3 4 days of break from trading, I was stunned by the movement of GBP/USD which move for almost 300 points from last Thursday. At the moment, I have one open position for this pair which went against me for more than 300 pips.

But, the lot size is only for 10 cents for each pip movements and I am not really care about that position. As oppose to my normal feeling to simply closing the position which giving me a huge loss (in terms of pips movement) from my initial position.  Instead of  closing that trade, the position will be my indication of current market movement and sometimes would be taken as a deciding factor before I proceed with the sell or buy decision.

This pix is proved on how well you can perform against the market condition which went opposite your initial positions. Never trade more than 3% of your current capital.

Cheers... and salam ...