My failure to act cost me dearly this week. I did not sell more gold when my guts told me to. XAU/USD went from 673 USD an ounce last week to 656. With my cash reserve and leverage ratio, the trade would have generated a 100% return even if I were to close it now @ 662.95 (the ask price).The EUR/TRY pair chipped away 150+ PIPs. During this time, I was holding my cash in anticipation of a trend reversal.
USD/CAD seemed attractive when gold was dropping like a rock and the greenback was rallying against all the majors. I bought in twice based on ADX and MACD on the 3-hour chart. However, the signal turned out to be false. The long-term trend overwhelmed the short-term trend and my stops got hit. The currency pair has breached the Dec 1977 low of 1.0900; now it is sitting at 1.0882. Next support seems likely at 1.0820. Is this its "darkest before dawn," who knows? I would have to see how oil and gold behave before I cast my vote again.
I always tell myself that a mistake of commission is more expensive than a mistake of omission and that I should never be afraid of missing out. Guess what? It still feels shitty.
QTWW was @ 1.17; I didn't buy it. SBUX was @ 28.03; I didn't buy it. TBHS was @ 15.00; I didn't buy it. QTWW made a 28% comeback today and closed @ 1.51. SBUX closed @ 28.95. TBHS closed @16.59. And my cash was just idle! WTF?!
Oh, well, no use crying over spilled milk.
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