Hi OWish I could do it all the time - what I didn't tell...

Hi O

Wish I could do it all the time - what I didn't tell everyone was that I had a buckin huge short position in BNB on 03/01/08 at 25.89 but I broke my trading rules and bailed out on 15/01 at the open for 22.95. Bloody thing thereafter plumeted and if I had any discipline I should have ridden it down and got stopped out on 23/01 at 17.95 or closed at the open at 18.29. Left an awful lot on the table with that one.

I reckon most people can get the market direction right reasonably often but it is bloody hard to consistently have the self discipline to maximise your returns. With XJO I did and with BNB I didn't.

Gotta have the self discipline now to follow the XJO plan - it would be tempting to go long and run with the bulls but we are within 100 or so points of very serious resistance. It would be tempting to jump the gun and punt on a short but that would mean placing a stop right in the area where I expect serious resistance. So hard to be patient when the market is moving with momentum!

Cheers

- HBG

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Trade the market you see - not the market you hope for!