24 February 2011

Brent Crude : Trading Mistake

  • Long at 103 .. out around 110. Completely misjudged how far and how quickly this can run.
  • I feel fear when I see exponential curve price action such as this, even if I am on the correct side. Bad mistake.
  • Lesson for future .. OK to take profit but retain at least 1 contract on a trailing stop/reversal out basis. Missed the meat of this move by taking profit much too early.


Taichiseal said...

Conflict between Rule 3 "Trend Following" and Rule 12 "Substance over Style".

Taichiseal said...

LCOJ1 price action on 24Feb11 :=

Op 111.98
Hi 119.79
Lo 109.60
Cl 110.74