[tonymand]

It is salutory to think the GY is down almost 500 for the day and if we had kept this mornings trade open we would have returned a 10R trade worth 20% return on equity. Still we did catch the first bit and the last although I am now wishing we had staked the full 2% on this latter trade. I say this because these 'regrets' constantly plague traders and cause them to take risks that are simply not justified. So pay attention to the old psychology. We are now out of this trade first half and are closing in on our final target. With such strong down candles I might usually be tempted to trail the candles until the move runs out of steam but frankly I have had enough for one day (its 11pm here) In fact as I write we have just been taken out at 229.50 anyway so end of story. I am not sure how much steam is left in this and there is often a reversal late on a Friday as traders square their positions ahead of the weekend. Again its just one of those bits of information that helps to make sense of what we do and why I fervently believe you cannot successfully mechanise trading for any length of time. Breakfast tomorrow as always in this part of the world will at least partly be about what did we miss overnight or did we get out at the right time. As I finish this the last candle is currently a doji which is about as undecided as it gets!