Here's my updated chart for /DX and why I am still holding my long with loss!
/DX got pushed down big time but still holding the trendline, if broken I will consider I am wrong and take my loss and move to next trade.
Many times we will see that people see big profit on their account but it's all paper profit and with big move all that paper profit is gone and they panic and close the trade taking realized loss.
If my analysis are correct my paper loss will turn into realize gain soon. Cheers!!
If you are not able to hold on to this type of paper loss I suggest you don't take trades like this.
Good Evening people,
I know I am slacking in my chart updates but I am very occupied lately, Anyways, I am also not giving you the status on my portfolio. I will try to keep up with that on daily basis.
Here's where I stand,
Starting Amount = $2,500
Current Balance = $3,052
Previous Balance = $3,633.66
Difference from Last update = -$581.66
P/L since start = $552
Target $5,000 by end of 2011
Not what I wanted to see but as we all know we can't win on every trade. The damage to portfolio is obviously came from my today's USD/JPY long but also from KGC, AONE and LVS calls.
JASO is still in red but I have added shares and not options.
I am so happy that I closed my F and FSLR calls with decent profit but what got washed in USD/JPY trade.
I am currently long /DX and I am anticipating 77.40 level on /DX before any major breakdown or breakout.
Here are different charts I am tracking with support and resistance level.
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