Crazy Week Again

Published on Friday April 30th, 2010 at 08:48AM by ronacoba

Just when things were starting to settle, another bomb from the euro zone suddenly exploded again. A debt credit downgrade on Greece and Portugal sent some huge ruckus on the market. I, like many of you maybe, was caught off guard. I was long on the pound and euro during the beginning of the week. Obviously, all of my trades got stopped out. Out of nowhere, everybody became bearish on everything that was risky. My next move? Well, since traders were all pessimistic I then shorted the 2 currencies that I named. Unfortunately, the market rebounded sharply perhaps because of some profit taking actions. And guess what? I got caught in the middle yet again, losing all of my short trades. The market is so crazy nowadays. It is so hard to follow a trend and to rise a sentiment. One day everything is down. The next day everything is back up. It also seemed that my trading strategies are not working at least for this month so I guess I need to stay in the sidelines for a while and observe how the prices move. I suffered incurred my most lost ever in this month that's why I also need to get my head straight first before trading again. If the market's dynamics has changed, then I guess I have to find and structure a new strategy that I can use to attack the market profitably. I hope to do just that next month.

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