Thursday, July 26, 2007

Woot Fiber is under correction.

I lost some money there. Stop loss was hit at 1.3790. The Fiber suddenly crashed 100 pips, down to 1.3700 yesterday.
I was bullish at that time and thanks to risk management, it doesn't hurt much. Whatever you do in this business, make sure you never break your risk management rules. My guts is telling me the market will go down further to 3600 perhaps.

The next plan is to buy at 1.3770 or 1.3600.

Why not short ? I rarely short a bull market. I lose money each time I do that. LOL. Just sticking to what works for me.

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