Friday, 14 December 2007

Covering my small Euro short

Just bought back the EURUSD I shorted earlier this month. Right from the start I knew I'd put this on in too small a size. Today, following a 1.5 point fall in the rate, I've been chewing over whether I just take my small profit, or increase the size of the trade and put a stop-loss at my average price.

5 day Chart of Euro versus Dollar

Well, I'm a wimp and just took the small profit. If it drifts back up I'll get in in better size next time.

So, just paid 1.4487 for Mar '08 EURUSD, netting a whopping profit of $368.



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