Yesterday afternoon I committed a cardinal sin, I walked away from my Euro currency purchase without any from of risk protection beyond my soft stop of 2%. Today I was slammed by my decision and had to dump my long Euro positions in a reactionary fashion.
This is unfortunate because yesterday I was worried that this type of event could happen and did little to protect myself in real time. With the limitations of the game staring me in the face, it becomes even more evident that some fundamental tools are missing that I have taken for granted over the years. It also makes me realize how labor intensive the game is compared to real trading.
This disappointment comes in the face of my best standing in the game so far ever, top 3.5%, top 15,000 traders out of 300,000. This makes me feel very well vindicated. My next step is to refine my approach next week after taking a two day hiatus. Tomorrow there will no trading, because of Thanksgiving, so enjoy yourselves, and Day 10 will have a lot of mixed messages, plus currency trading will shut down around the world Friday evening.
I am on the right track, for that I find some solace in my trading approach.
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