Wednesday, March 28, 2007

My first trade...

... was the Mini Gold Forward contract last night. Bought 1 contract @ $663.35, bailed out @ $663.05. So this was also my first loss.

In hindsight, I suppose it was greed that made me buy when the market had risen ridiculously quickly on the chart. I think the lesson here is only buy at a price that I've spent time reflecting on - and not get carried away by the drama in front of me. A bit more reflection, and a bit less 'seat of the pants' is called for.

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