Managing losing positions

One of the things I try to focus on all the time is 'money management.'

Today, I sold (covered) my entire Euro/US position into strength. I didn't like the fact that we closed above 875 on the S+P Friday and I took the opportunity to cover into 'weakness' because we could be going a lot higher in the pair...which would reflect a strong equity market...and just because I think it's ridiculously high, others don't!

My Euro/Greenback shorts needed more managing then I planned. I wanted to lighten some of my position, and I got the chance. From MarketNews.com:

09:05 05/04 EURO-DOLLAR:
Light flows in the recovery to $1.3255 area, a trader in NY
says, attributing the earlier dip in the pair to euro-sterling sales
through the ECB fixing as weighing on the euro in very thin conditions.