Wednesday, September 20, 2006

Crazy Days, Crazy Trades, Crazy Pips

Yesterday was a coup day. Today, it's a Fed day.

Basically, yesterday's bizarre event caught everyone off guard. As a result, people rushed into buying the dollar and pushing the dollar higher during the late US session, even though its fundamental outlook was pretty uninspiring. I was on the opposite side of the trade, picking quite a few dollar short positions in usd/yen, usd/chf as well as cable. Up to this moment, I managed to turn some of these overnight losing positions into profitable ones.

A long list of short USD/yen trades:
(Tuesday's closing positions)
First entry at 117.76 (from Monday) exit 117.16 +60 pips
Entered again at 117.09 stopped out 117.20 -11 pips
Entered again at 117.14 stopped out at 117.26 -12 pips
Entered again at 117.20 stopped out 117.46 -26 pips
(Today's)
Entered at 117.77 exit at 117.28 for +49 pips
Entered at 117.57 exit at 117.23 +34 pips
Entered at 117.37 exit at 117.14 + 23 pips

The rest of today's list:
Entered long cable at 1.8804 exit 1.8825 +21 pips
Entered long cable at 1.8850 exit 1.8875 +25 pips
Entered short swissy at 1.2521 exit 1.2501 +20 pips

Right now, I am still hanging onto a long cable position, a short swissy position (both with tight stops) as well as my underperforming, losing loonie positions. I'm waiting for the FED...

No comments: