Short Scalp Follow-up...

Here is a great example of why you have to be very careful when you short into a rally (or buy into a sell-off). I shorted the gbp/jpy as you can read in my previous post. Knowing full well that the overall trend in this market has been going up per the longer-term time-frames, I was very cautious in this short scalp. I was not greedy, nor did I keep my shorts on for very long. As you can see, disaster could have struck if I stayed short!

The best way to avoid big mistakes, is to make them once and learn from them! If you have the opportunity to learn from a mentor, or simply from another trader's mistakes, take full advantage (ie, read my blog!)!

Good luck.

Andy