Monday, October 22, 2007

Euro Trade


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I put a short in the Euro last night. With my stop in place, I reviewed what I just did to ensure that I was comfortable with and accepting of how much I was risking (that is the only way for me to sleep through the night with a futures trade in place). This morning, I woke up to find that I am still short and sitting on a nice gain.

Yes, I fluked out, and pretty much timed the top in the Euro. But now I am not sure what to do. Hold through the inevitable retrace and try to make this a real swing trade, or take my profits now ?
Regardless, I moved my stop down to 1.422 while I contemplate my options.

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