Thursday, November 15, 2007

Short GBP/USD futures

Took GBP/USD short at 2.0557 and added at 2.0547


The FX market did not break the 2.0550 level into the London open, so I placed a Stop at 2.0539, which was hit right before the Selling started. Can't afford that. Next time I might place the Stop nearer to my entry giving GBP more room and so allowing for the greater volatility this contract shows compared to other currency futures I trade.