Friday, July 15, 2005

Mean Old Euro... Taught Me To Weep and Moan...




Shangrila I will return again... sometimes it's your during your P&L down days where you do your best trading... dealers love to gun stops... I had to get a better price average on my short which was trainwrecking me into a busload of indians hanging out of the windows, turbines flying about in a frenzied panic... it was getting ugly at an exponential rate... so I publicize to the dealer a stop to buy 5 million euros at 120.60 where I'm seeing a reversal... course, I ain't gonna take that 800 pound gorilla long position... I just need them to push the price action there, so I can actually double up on my short... and oh how they did paint the price there... of course I pulled that gorilla stop one second after they put it on the books... So I get short again on my truly much smaller position, average up the price, and end the day breakeven less the spread... avoided a massive ground zero I did... It's got what it takes to make a mountain man leave his home...

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