Monday, 11 May 2009

Position Update

Here are the trades I am active in:

Long USD 3m short Yen at 103.10 average.

Current rate: 98.60
Current: loss
Looking for a rally up through 100.00 one day! This has become a long, long, long term position.

Extra background:
First short USD3m freeze trade taken against JPY at average of 96.97 closed at 89.63, generating gain of USD245,676.67, NZD423,580.47 (not counting carry interest).

Second short USD3m freeze trade taken against JPY at 95.90 closed at 98.10, generating loss of USD67,278.29, NZD112,130.48 (not counting carry interest).

Long NZD 2m short JPY at average of 56.10.

Current rate 59.70
Current: Gain
I am comfortable with carry trades with the NZD/JPY up nearly 27% this year! Will add more on a move to 56.50.

Extra background
Short NZD2m freeze trade taken against JPY at 53.50 closed at 54.02, generating loss of NZD19,252.13 (not counting carry interest).

Cashed out:
Long NZD3m (54.69) short JPY at 59.92, for a gain of NZD261,849.13 (not counting carry interest).

Current rate 1.3550
Still can’t make my mind up on EUR/USD. I could see it go either way, so best to stay out of it.

Long GBP1m short USD at 1.5050
Current rate 1.5180
Current: Gain
I think that there is too much bad news priced into cable, so have started to build a position. First for me in cable since I started this blog.

Long AUD1m short USD at 0.6850.
Current rate 0.7650
Current: Gain
Happier now that CRB index has broken higher. Will add to position in the 0.7350 area.


Current rate: 0.6075
Still waiting to see NZ budget and possible downgrade.

Previous balance: NZD1,508,334.34
Plus NZD/JPY gains of NZD261,849.13
Less USD/JPY (freeze trade) losses of NZD112,130.48
Less NZD/JPY (freeze trade) losses of NZD19,252.13
Total gains banked since August 2007:



peterquixote said...

its very hard to follow
catch up with you dude
with what you are doing,
but i will

Kiwi Trader said...

I try to make it as clear as possible, but at the end of the day, forex trading can get tricky, otherwise everyone would be doing it!

If you need anything explained, just let me know!