June 10, 2008

Taking 44 pip profit when I really needed it

Last night I was too tired to post the details of my new trade. The RICS house price balance was to be announced at 19:00 (EDT), and I opened a position to be short on GBP against dollar, at 1.9741, about one hour before the close. I waken up 4 hours later, closing the position at 1.9697 and taking 44 pip profit.

I think my earlier loss has been compensated, so I am going to be more confident when I really need it.

The house price balance was better than expected but the speeches from US officials, from Fed and Treasury, was a boost to the greenback.

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