Having stayed long on Sterling from the previous session, the market proved Leon right in that Sterling did indeed Rally through the NY close and during the Asian session, the position had indeed shifted from being in heavy drawdown to being in some moderate profit, the only question was now trade management, how would Leon manage the open positions, I decided to reduce the accounts exposure by reducing all posistion by half, and placing the stop loss to within the profit zone for GU, I felt much comfort in speaking with both JQ and Shaq who expressed words of comfort and encouragement during a very bad day in the office yesterday.
This gave me the inspiration and confidence to push on through and to find my flow once again.
To that end, every trade I managed to take during the London and European session turned into a profit and the account is a few trades away from being back into the black.
I dont like to blow my own trumpet, but I was truly on fire yesderday and if I continue in that vein of form then expect monumental results.
Today is NFP - non farms payroll for the USA - and the begining of a new quarter so will be very prudent and cautious today- I have reduced risk considerably and as a result have been trading much better - with high risk trading there is always a good day - but conversly there is a bad day, and all it takes is for 1 or 2 trades to not go well and the account can be severly damaged, this indeed goes for all financial instruments.
I have now truly learned the lessons of overleveraging and how stressfull it can be when abused :-)
I can smile now - that I managed to reduce risk on the 2 Large positions and also to have an above 90% strike rate on the session - God was truly with me yesderday and I give thanks for that.
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