July 29, 2008

Bad bet and carelessness made 39 pip loss

A buying order for gold automatically triggered at 925.0 and resulted in loss at 921.1 very soon. I was absent at the terminal when it happened just one hour to the US data, CaseShiller and Consumer Confidence reports and both came better than expected.

I always close positions or reduce the size significantly before any data release and this case was a clear violation to that rule.

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