Here's the detail on that reversal: I had plans to meet up with a guy at Starbucks to swap a wired apple keyboard for a wireless one (a deal for me), and I had a tough time getting wireless setup once I was at sbux. I finally did, and by the time I logged in, it was already a few minutes past the time when I should have closed the trade. Price was in my favor at that point, so I moved my SL on the trade to where I would have closed it out had I been at the screen at the time. Price retraced, hit the moved up SL by a pip, and I was out with 1/3 the profit. With nothing else I could do, I closed the laptop and waited for the guy I was meeting.
I came back to my apartment to see the E/U had blown through my original TP level. Now, I can play what-ifs all day long, but I imagine if I had just called the guy I was meeting and said I was running 15 minutes late, I might have caught that the reversal was not a real reversal, held on to the trade like I should have, and ended up with full profit. Who knows.
At the end of the day, I thought I got a $30 break on a computer accessory, but I (arguably) ended up with a $570 opportunity cost. Lesson learned: most people are forgiving, and if you KNOW something is coming up, politely ask them to wait while you deal with it.
Down 2.6% since inception (4/19/2010)
3 comments:
I'm debating whether that's the real lesson here. That guy could have had an equally important thing he needed to get to 15 minutes AFTER you meeting, ya know?
*your meeting
In which case he could have told me that when I called to tell him I'd be late, and we could have rescheduled, no big deal?
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