Day 1 - Acct funded and did my first trade, shorted KOG at .93 before I went off to work, placed a condtional order to stop loss at 1.01 or cover at .76, obviously by the time I got to the office my stop loss activated. Loss of $78, later in the day, shorted CIT at 4.6, holding overnight, against the recommendation of Muddy and GS from GOTS, the reason they gave me was the LIBOR rates were coming down, which means money was getting cheap.
The reason I shorted is coz its up sharply, and I dont believe the commercial real estate, cosumer finances, small businesses and the like is impacted yet as heavily as the residential side. When you see the unemplyment number rise, people fall behind on their credit card payments and that is probably when there will be tougher times.
My tolerence is upto about the whole number 5, lets see if some money can be made.
Cheers
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