(Speaks softly) Sorry for the lack of s finishing post yesterday and for the late arrival of today's.
I've been in bed with a migraine since last night and the funny feeling I've had over the past couple of days or so was most likely the build up, no wonder I didn't feel on top of my game.
Instead of being involved with Bloomberg and the news and views in the build up to the tapering announcement I was throwing years of old paper orders into a roaring fire I'd built in the living room (the fireplace silly!) and I noticed it was one minute to 7pm.
I raced into my office, opened my platform and as I heard the announcement I saw the initial drop. I tried to place a short order (in line with what I through may happen with the announcement) but couldn't get it on as the price was seesawing so dramatically. I noticed a rise and thought I'd get a better price. Of course when I was filled my order took about 50 points higher than when I clicked my mouse and continued to climb.
Fortunately I'd only gone in at £5 point and within 5 minutes I was 150 points behind. I know sometimes you can get an odd reaction before the market digests the news so I thought I'd leave it. I closed out my position for a 200 point loss aftermarket when I saw this was for keeps.
A few lessons here:
1) Never place a trade immediately following news announcements
2) Listen to the build up with Bloomberg and my twitter feeds so I can educate myself on possible outcomes.
3) Don't trade when I'm not feeling right.
I couldn't get out of bed until 1pm today and I've been walking around like a zombie ever since with that slightly disconnected feeling. Thank goodness I recognised the migraine from the outset and had started taking my pills or I'd be suffering and most likely still in bed.
So that concludes my trading for this year, it's a good time to take a break. I'm about £1500 down since I went back into the markets in September which although far from ideal is not a disaster. I've had a really good run of winning days and I've learned I must have more confidence in my own calls. I've read a few of my recent entries and my long bias would have served me well. The long trade I closed out recently for a £3500 loss I could and should have let run to at least breakeven. That would have made the last 3 months profitable.
No harm done in the medium term. I've learned so much more about myself and I now welcome the break for a few weeks, I could do with it.
