Thursday, June 14, 2012

FTSE Short trade closed for a small profit

I had to leave my desk for a couple of hours this morning and as the price had fallen below the previous low (bottom mauve line), I moved my stop into the middle of the funnel which guaranteed me a small profit.

I was stopped out and, of course, the market has dropped a little further since then.

However, always keep in mind:-
Rule 1 of trading - Don't lose money
Rule 2 of  trading - Don't lose money
Rule 3 of trading - Apply rules 1 & 2

And.....a profit is not a profit until it is banked!

I am watching for another entry at the top of the funnel if the opportunity arises.

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