A tough week, no doubt about that. They don't come much tougher.
A couple of bright spots I'll pull out:
- I'm out of all non-currency positions, albeit after a sharp hair cut
- I managed not to lose all the money I made the week before
So I sold earlier than I normally do (I normally wait for a 15-day low...my week would have been much worse if I had waited for that...I'd still be holding many positions, in fact). Just had to get out, and I thought this correction could be nasty. I have to admit the magnitude and velocity of it was shocking - I was caught flat footed on a couple of positions, and got out later than I would have liked. But at least I'm out, and will live to trade another day.
Open Positions
Date | Position | Qty | Month/Yr | Contract | Strike | Call/Put | Entry Price | Last Price | Profit/Loss |
02/28/08 | Long | 1 | MAR 08 | Japanese Yen | 0.9501 | 0.9786 | $3,562.50 | ||
01/02/08 | Long | 1 | MAR 08 | Swiss Franc | 0.899500 | 0.9796 | $10,012.50 | ||
03/07/08 | Long | 1 | MAR 08 | Swiss Franc | 0.978400 | 0.9796 | $150.00 | ||
Net Profit/Loss On Open Positions: | $13,725.00 |
Current Cash Balance | $107,716.73 |
Open Trade Equity | $13,725.00 |
Total Equity | $121,441.73 |
Long Option Value | $0.00 |
Short Option Value | $0.00 |
Net Liquidating Value | $121,441.73 |
Cashed out: $5,000.00
Total value: $126,441.73
Weekly return: -15.6% (ouch)
6 comments:
These currencies should be rolling over to June soon. How would you handle that?
Thanks Ken
Ken, I usually wait for the volume to even out between March and June - then I roll them.
Nothing fancy, I'm sure there is probably a textbook way to handle it - but I'm not sure that it matters much.
-Brett
I agree Brett- Thanks for the response. Unleaded Gas weekly and monthly breakout here. Check it out
Ken
I see you have tracked Agora a bit. I'm one of their editors and would like to discuss some opportunities with you if you have the time...
-Stephen
stephen.oakes@gmail.com
Brett
How does the Aussie dollar look to you?
Thanks Ken
Hey Ken - I love the Aussie, but the damn thing hasn't rallied like I thought it should have! I believe due to the carry trade unwinding.
I'm still watching the Aussie closely, but can't decide on a good entry point. This might be one you have to band trade - buy when it hits the lower end, sell on the high end. Damn carry trade goes on/off so fast it's really hard to time.
Brett
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