1. lesson if you own shares on a rally but you need to hedge to prevent loss of capital if you expect the rate to increase then short a future but only short it at the last moment ( Like in the case of the announcement tomorrow ) with tight stops 2. When your short is working for you let it work for as long as your emotions will let you just do not go long until the short has shorted out ( Those Americans who log on at 4 pm could cost you ) If you want to go long just to sort out the ego then do it in small bites 3. Gambling on interest rate (causes BIG Pain) so check out where the Rand is going and hedge Good Rand Hedges good for anxiety Take it or leave it but two trades in all the excitement took a potential profit of R 70 000 from GFI cause thought R 24 000 was good for 3 days then went long cause thought I could catch those Americans out at 4 pm but then had the oil spill and down we went . and then there was Tito cost me R 16 000 on a hedge on Mr Price ( sold my shares at R 22 ) but went short to protect margin at 19.50 but being a bear went short on more shares than I owned Must have smoked some serious stuff the last few days