Sugar has broken out to the downside from its short-term trading range. I am presently showing an unrealised profit of 2.4 risk units — which somewhat makes up for my loss of one risk unit on today’s oil trade. I now expect a few days of range trading before it moves again. I have moved the stop to my entry level, protecting my MTD cash return of +0.37%. The return was +0.62% MTD before that stupid oil trade. I may take profits on the sugar trade when the market opens tomorrow: if the price doesn’t move, that will give me a cash return of 0.97% MTD.

I am still not very good at taking profits when they are on offer. I should have closed my short GBP/USD trade on 1st March — I thought that fears about a hung parliament were overdone, and should have exited as the price spiked downwards for a profit of 5.5 risk units. As it is I exited today for 4.1 risk units — trade analysis tomorrow when I have slept on it.

Advertisements