RCG - I had been down 9.5% on a very large amount, but over the last few days the stock leaped up to make me 9.5% up, so I sold with a profit of $4k....
feeling very pleased with myself I then checked my shorts to discover that I was the same amount down on the japanese market - not so clever after all..........
a number of mistakes made with this short -
1. my calculation of the amount to short was way out by about 6 times......
2. betting on the Japanese market, one which I am not very familiar with, should have started with just a small increment anyway.......
3. the nature of the trade where it based on just technical should have been accompanied with a stop / loss ....... the RCR trade was different in that I was working with a share of the company of approximate known value, which allowed me to hold even when i was down by a large amount.....
