- Just when everything looked like it was going to be hunky dory again (Risk Off trades working, got out of outright short EUR/USD just in nick of time, etc), along comes Gold.
- Yesterday - down $42 from $1241 to $1199 (-3.4%). Reasoning? 1. EU banks liquidity positions not as bad as feared = EUR/USD rally = Gold off. 2. Liquidity raising to meet margin calls for Equity losses. What rubbish. [XAU/EUR unwind].
- Result : Big hole from moderate sized Gold position overwhelming profits from all other trades yesterday.
- When it's not going well, T4L can really be the hardest thing in the world.
- First China reval driving through all my stops in good Risk Off trades, which came back all the way. Now this. Serious test of character ahead to see if I can withstand the bludgeoning of chance and remain unbowed.
1 comment:
This month is hard to trade with many spikes ups and downs. I suspect this is due to world cup season.
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