Today AUD/USD opened around 0.76696. When I woke up, it was at around 0.76700. There seemed to be a downward trend today, so I went short i.e. sold, and closed at 0.76680. This happened within about half an hour. S$140 for the day done before 9am.
However at lunch, I saw an RSI above 70, and since I feel the long term trend of AUD/USD is going downwards, I didn't see the harm in shorting it at 0.76817. After all, that was over a 100 points since opening. Turns out however, a huge uptick was in store and it went above 0.77. This gave me a paper loss of over 200 points i.e. $1,000. However, my instincts told me to wait it out. After all, I had taken a $1,200 lesson earlier in the month. True enough, the position finally closed at about 6pm, and that was another S$140 for the day.
231 days left.
Yours,
X
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