Following up on the successful gamble on USDJPY after the FOMC announcement I had a successful position by shorting EURNOK ahead of the Norwegian interest rate decision today (up 25bp:s to 5.25 pct). BUT... and here is what annoys me at the moment... As I was at work today I had a profit taking limit in place and NOK strengthened far more than it accounted for... so I actually had higher opportunity costs than the profit taken.. In such a way that it would've been a financial advantage to just stay home today... gives some thoughts 🙂
The thing is, taking profit can be rather important, looking at the USDJPY position I hold yesterday, if I had stayed in for as long as today I would've ended up loosing money, as USD appreciated quite a bit against JPY. At least I can use that as a slight comfort.
Well.. there are other chances. All in all I'm looking forwards to having some days off around christmas and finally get to read some non-school and non-work related information. There has been far too many news articles about work the past month (8,000-10,000 articles in total... gotta "love" it when Subprime troubles hits Norway) so will be nice to get the thoughts away for a while, although I don't start my vacation untill the 22nd.
