I mentioned earlier that targeting key technical levels is important to getting out of a stock position that's moving against you and that it may not necessarily work in the forex market, depending on the technical pattern being traded.
Just when I thought I'd be doing better with my forex trading after my couch-jumping incident below, I got into a short GBP/JPY position that mitigated some of my stock market gains today.
It really got me thinking. If I had implemented a cost-averaging strategy with this short GBP/JPY position, I still would not have been able to break even. However, if I had instead stopped and reversed, it would have worked out better.
So, I'm going to study this a bit more and see if I can figure it out once and for all.
I am so close to + 100% with a part of my HWD position now - how exciting is that!
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