Originally Posted by
;
Nafara and all....
Great articles!
Brought to head the trade that NEVER happened. The trade that HAUNTS my dre!
It began for me on Aug 02, 2005.
The gpd/jpy was in a 7 day uptrend following a large move down from 200.00ish to roughly 193.00 end of June to late July.
( nowadays that's near a daily bar!! )
Price headed north for this pair and analyzed, marginally broke the 200sma on Aug 01, 2005. The day. . .the 2nd, price was pushed back in the 200sma and that was also, at the moment, the top of this Boll Band, shutting around 197.50 region. This created what I preceived to be a daily tweezer.
Now I wanted to board this pair, and was still considering to place to a position of 3 to 5 lots. BIG for me, as I'm not a Position trader ( Long Term Sort or Short Term ). I wanted the best fire sale price that I could get, and at that moment, in my mind/calculations....it was around 195.00 /-. ( I didn't avg. Up in these days ) nor have a large, long term position....avg I would have....as component of my stategy to be on board.
So I decided about placing 3 buy orders....one at 195.50ish, 195.00ish, and 194.50ish. I was countin' my money!!!!!!!!!
Well,the tweezer was not supported another day....nor another, or another....price eventually broke 200sma solidly, compared to retested, and the 200sma became solid support. BUT I WANTED 195.00 and that I was not going to
pony up to get a pip longer ( avg wise )!!!!
Well, all can look at a chart and know the rest of the narrative....
Stubborness and Greed, with a dash of Fear has left me a Collar working trader....and I dare not think of that potential profit in $$ terms, for fear of my SANITY!!!
Fxj