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!!


russ said...

I've noticed you don't use stop losses in your trades? At what stage would decide "ok I was wrong" ?

Kiwi Trader said...

Sorry to be so long in replying.
My next post will be on stop loss orders. I essentially don't use them, and accept that this can lead to a great deal of trouble. But in the past I have given the markets bucketloads of money on stop loss orders and came to the conclusion that it was better to maintain internal "review' levels.
My review levels on the USD/JPY and NZD/JPY are 90.00 and 50.00 respectively.