- Reduced short EUR/USD and GBP/USD risk on Friday. Jumped back into re-establishing GBP too soon (1.5048). Not sure how high we can squeeze up but taking the prudent course of action for now to keep position sizes sensible so I can withstand the move up.
- Watching daily for turn (back down) to re-build positions up to previous sizes again.
- This is the problem with Trend Following - giving back hard earned gains on retracements within the bigger trend. Other than gut feel driven periodic profit taking to lock in gains, I have nothing in my armory to avoid this kind of drawdown.
- Wished I was clever enough to catch tops and bottoms. Alas, no.
- Downtrends remain firmly in place. This is just a side-show. Control trade sizes to stay with the downtrend!
No comments:
Post a Comment