A few weeks ago, I was convinced that the UK property market has on the way down. It it had a bit of a reprieve however, until this week, where it fell further, finally closing below the average price for the year (the ma52), which is, for me, a good reason to liquidate the position. I shall be doing this on Monday.
(photo by Scott Preece on Flickr)
Surprisingly, there has been another trading signal! You’ll have to watch the video to see what that one is. I certainly was not expecting it! So this week I have two trading signals to act upon. Remember, I give myself no discretion here, I just follow the signals, just like the ‘Dice Man’. It’s much easier this way.
They will both be losing trades, by the way. I entered the property trade too late, so there is a greater distance between the entry and exit price than there should have been. I am telling myself that this is a reminder (albeit an expensive one): I need to take the signals promptly when they happen, and not wait ‘for confirmation’. The problem with closing trades at a loss, is that there is a temptation to keep them open, in the hope that they turn profitable again. Sometimes it does, but often it doesn’t. and the loss gets worse. Not a good feeling. I find that feelings are generally a bad thing for my trading…..
Have a great week! I’ll catch up with you again next week! btw: you can find me on Facebook here