4.40pm local time.
Gold. Stop loss triggered for 1 lot of gold at 1717.215 with a lost of $7.30. The other lot is still in the red.
Looking at my order, I realised that I hv made a mistake.
My short position in G/U and long position in Gold couter-attack eachother in terms of profit. If I am expecting USD to move up, I should hv shorted Gold, but if I think Gold is moving up since it's being supported by SMA34 in daily chart, I should not have placed any orders, but to observe. My old habit of MUST HAVE an order in the system fail me again this time.
I have half the mind to close my gold position, but since it has yet broken off the 34SMA leel, I am inclined to leave it as it is for the time being. I should focus on the pair that has higher probability of winning,.. a sure case , instead of making assumption.
I may live to hit myself in the head later today, but inorder to just support one trend direction, I have decided to close my Short GU position and just hope for the U turn on price of gold to positive trend.
Closed both GU, 2K at about 1.57008 at 4.50pm. Profit $10.60/-
Decided to support the upward moving of Gold by buying 10 lots of silver at 31.57749. SL set at 29.84, potental loss = $23/-
Current outstanding position
1 long gold, 1K short AUD/NZD , 10 long Silver : Total expected loss for these order = $$50/-
(Note : I will RUSH in to short gold if the SMA 34 daily support is breached....)
Cash balance 312, Net Asset value $300.
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