GBPUSD: Update on Short: POWER OF FUNDAMENTALS! Lessons Learned!
It was a hard choice to take a short position in GBPUSD at 1.32260 and 1.3215 (see link below) because the technical conflicted each other for me. I predicted that GBP data would come ot positive and it did a few weeks ago for a small target (like 20 pips)...but then I predicted that the NEXT DAY would be really bag data. And, it was! Predicting UK data has been troublesome and I am glad I have experienced it in such a chaotic time as Brexit! I learnt so much!
So, I relied on my economic assessment of the situation. This gave much more clarity and investment foresight than looking at charts. This is evidence that learning economic-fundamentals will help you to put the probabilities in one's favor and align yourself with economic forces!
TARGETS:
My target is still 1.25 or 1.26 in Q4. I shorted for a big gain, but then became overconfident in the middle of August and held the short. In fact, I held that losing short position halfway up, I took the loss and learned an important lesson about myself:
Lesson#1: TO LOSS ALL MY PRIDE!
Lesson#2: Make sense of what I am trading and align it with reality.
Lesson#3: Treat this as my business with NO PRIDE and no boasting about.
Lesson#4: Economic-Fundamental Predictions and analysis are really good and I should stop doubting myself over and over again. haha!! I think I am ok. Yeah...... I will be ok!
So, I relied on my economic assessment of the situation. This gave much more clarity and investment foresight than looking at charts. This is evidence that learning economic-fundamentals will help you to put the probabilities in one's favor and align yourself with economic forces!
TARGETS:
My target is still 1.25 or 1.26 in Q4. I shorted for a big gain, but then became overconfident in the middle of August and held the short. In fact, I held that losing short position halfway up, I took the loss and learned an important lesson about myself:
Lesson#1: TO LOSS ALL MY PRIDE!
Lesson#2: Make sense of what I am trading and align it with reality.
Lesson#3: Treat this as my business with NO PRIDE and no boasting about.
Lesson#4: Economic-Fundamental Predictions and analysis are really good and I should stop doubting myself over and over again. haha!! I think I am ok. Yeah...... I will be ok!
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.
