A Story about a Trade, Vol. 4

1) This morning I thought I’d get myself into some trouble, so I added to a trade.

2) They say, “never add to a losing trade,” but they also say, “don’t play in traffic.” Which, now that I think about it, makes sense. Haha.

3) Anyway, I added to an AUD/NZD trade, because, well, the correlations went out of whack:

4) So, here’s the situation:

401,000 units short. Two trades of two different sizes, so I can close them out of order. Thanks, Oanda!

5) Now, we’re heading into the weekend, and I’ve got an open losing trade. I’ve got two options (well, that’s as many as I’m considering).

6) Option 1: toss out this garbage trade

7) Option 2: Stay, fight, settle in for as long as it takes.

8) I’ve chosen option (2), naturally, because I’m insane like that. So here’s the plan.

9) Add to the trade on a break below this trendline, and target the top bollinger band (bollinger is set to 800 because, again, I’m insane)

10) I’ll send you an update on Sunday/Monday to let you know how this is going. And …

11) If you see smoke and/or fire coming out of my office, you’ll know how the trade went. 🙂

Rob Booker

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