Open trading account 
Yesterday I sold the pound against both the USD dollar and Japanese yen. At some point both trades were more than 100 pips in the positive territory but I didn't want to close them to early, as I expected more gains. It was the violent way the pound went down that convinced me that it might be headed to 1.2200 region. When cable started pulling back up I considered this just a pull back and I was still confident that it would go down again. And for some reason I failed to adjust stop losses.
Hours later I was deep in red on both positions and they eventually hit stop losses which put a serious dent in my account balance. I keep forgetting that pound volatility is really high lately and anything can happen.
Later yesterday I found out some reasons for such remarkable reversal. The irony of it all was that most of the day I had Bloomberg TV on, but I was busy doing something else and not actually listening to the news.
Hours later I was deep in red on both positions and they eventually hit stop losses which put a serious dent in my account balance. I keep forgetting that pound volatility is really high lately and anything can happen.
Later yesterday I found out some reasons for such remarkable reversal. The irony of it all was that most of the day I had Bloomberg TV on, but I was busy doing something else and not actually listening to the news.
