Wednesday, December 5, 2007

Euro - Move Your Stops

Our position in the Euro has been a challenge to say the least as it went from profitable to unprofitable almost on a daily basis.

However, both euro short positions are currently showing a profit, the second position giving us better than a double. But I am not here to gloat about such a thing as you could have taken just
about every other day since I put the line out and thought I was out of my mind.

Currently, the Euro is looking very bearish and should continue its decline.

While we are in a very nice position to profit from such a decline, I am still going to do the prudent thing and move the stop up on both positions to lock in profits.

The position that was taken on first and has given me the most trouble is going to be stopped out at break-even now and the double that we have in the second is going to move up to lock in a 50% R.O.I.

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