Taking your losses…

Taking your losses…

On Friday afternoon Lihir Gold traded above $3.90 and looked like it could hit $4.00.

It was one of those funny things that in the back of my mind it really sounded too good to last…

Guess what happened today? (click on the image to see the full chart)

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I had been scaling in my position as was over exposed. Luckly I got out quickly (did I mention the value in a Stop Loss?).

I met a great person on the weekend who would say “what is the blessing?” (if you are not spiritual, then you should ask yourself, what is the lesson?)

I have noticed that I do get a little caught up in these things. Remember, I did enter at $3.28. If I ever write a book on Trading it will be called “Emotional Mastery” because before you can trade well, you must master your emotions…

Rock on!