it would be good to have a flexible mind rather than "one tracked mind like mine"
Thursday, my $10.000 short on FMG dropped 4.4% and after a further drop in the iron ore price o/night the price then gapped falling another 3.3 %, that would have been a good time to close out my short with a $770 profit...... but I had my mind locked in another direction.......I believed that the iron ore price would probably continue down and that the price of FMG would continue down with it, so I had a further short bid placed at a level which missed be taken out at open due to the gapping.........the share price did eventually reverse back to my bid price and closed slightly further up again...... it was the progress SP and the further purchase that I had my mind on ..
if I had my wits about me I would have sold my initial short for close to say the $770 profit and then be left with only a tiny loss on my on my latest purchase........instead my current net gain on this venture is now just $365 with a greater exposure to where the share price might go in the next few trading days - fingers crossed....
its all in the game, just try to keep my mind the overall picture next time maybe... GK
