It’s time to take my own advice.
I went to bed in a sour mood last night as the results of the referendum began to come in and the pound rallied. I had a serious case of regret. I had been so sure of a No vote and I had been long cable but as the referendum polls closed and with cable at 1.6400 I decided to take the money and run.
Being right isn’t as good as being rich
I went to bed with cable at 1.6500 and probably grinded my teeth all night thinking about the money I should have made.
I was happy to wake up and see that fast money had quickly “sold the fact” and cable was down below 1.6400, if only to ease my regret.
But making money (although not enough money) isn’t the problem — the next trade is. One of the things I repeat most often is that “there is always another trade” and “the market is full of opportunities”. This one felt like a once-in-a-lifetime opportunity to fade fear but there will be others, better take my own advice and forget about it.
Also, another note, Ryan Littlestone was long in cable from 1.6060 on the referendum trade. What a champ. He stayed up all night to write about it here too. Legend.
