Thursday, 9 October 2008

Position update

Bought 1m USD sold Yen at 99.64 last night.
Average now 3m USD long short Yen at 103.10.

Bought NZD1m sold Yen at 59.83... my first carry trade for a while!!

Wednesday, 8 October 2008

Position update

Here are the trades I am active in:

Long USD 2m short Yen at 104.83 average.

Current rate:101.40

Underwater here as the carry trade repayment has dragged this rate lower.
Will look to add a further 1m USD long on approaches to 100.00.


Current rate 63.13

Almost getting time to re-enter carry trades again. Will use approaches to 60.00 to begin building a position.

Back to Square

Current rate 1.3600

Decided discretion was the better part of valour, so cut the position out completely last week and took the gains. Will re- assess if EUR/USD moves back above 1.4000 in coming weeks as the madness around the world calms down.

Cashed out:
Short EUR4.0m (1.4283 average) long USD at 1.3885 last Friday, for a gain of USD159,200 @0.6600 NZD241,212.12 (not counting carry interest).


Current rate 0.7090

Probably fallen far enough for the year, looking for a retracement. However AUD/USD has further to fall into next year. Use retracements higher into 0.7800 to begin building a short position.

Total gains banked this year to date:
And that's how to become a millionaire!!!

Next trades:
Looking to buy NZD1m sell JPY on a move into the 60.00 area.
Looking to buy USD1m sell JPY on a move into the 100.00 area.
Looking to sell AUD1m buy USD on moves into the 0.7800 area.

Friday, 3 October 2008

Euro position

Just cut my Euro position completely at 1.3885, so now square.
Not sure which way this vote will go in the US tonight, so decided to take profits and re-assess next week.

So now square in the Euro trades.

Discretion is the better part of valour!!

Will update profits etc over the weekend.

Wednesday, 1 October 2008

Position update

Order at 104.00 was struck, so now long USD2m short JPY at an average of 104.83.

With the rate at 106.15 right now, looking good.
Euro position has lurched into profit as well overnight.

USD is strong, because they are in a mess, but it is known.
Everywhere else is also in a mess, but the scale is unknown.

And the US has a rep for sorting stuff quickly. Europe and Asia (not so much the UK) have reps for hiding and covering bad news.

Buy USDs!!