I executed a Buy on AUDUSD at 0.8985 as I felt that it was basing at that level based on Ichimoku and Stochastics.
Took profit at 0.9035 for a trading profit of 50bps.
Tag Archives: forex
August was a busy month for me as I needed to spend time on another business involved in tocotrienol, so I didn’t really have time to trade, nonetheless, I managed to do three trades through the month and won on all three trades.
Absolute performance for the month was 10.6% and the total absolute performance year to date is now 199.1%.
Next month is going to be a crazy and volatile month with the QE tapering question being answered during the third week of September; is Bernanke going to or not going to initiate the start of the tapering exercise?
Well, let’s see, certainly September is going to be an exciting month and I will make sure I am there to capture opportunities in the marketplace.
July was a mixed month for me as I was not very comfortable with the market, however, as traders we still need to be in the market to stay sharp and to be relevant.
I did 9 spot trades; lost in 1 and won in 8, ROE or absolute performance was 18.5%, adding it onto my year to date total absolute performance of 170%, I am now 188.5% for 2013.
The month of June was a busy month, I did 9 trades and two options.
I lost on two trades and nearly loss big time on the EURUSD call option but managed to recover and actually made a profit. You will recall that the two month EURUSD call option had a breakeven of 1.3175 and expiration on 28 June 2013. I squared at 1.3268 and it hit a high of 1.3365 just before expiration.
The yum yum trade was the 2 week USDJPY call option. I just felt the JPY strengthened too much too quickly and a significant correction was going to happen. So I bought a call option at 94.15 with a breakeven at 95.86 and I bought back the option at 97.50 for a nice profit of 16.8%.
So for the month of June, I am up 33.3% in absolute returns. So far, YTD trading profits in absolute is 136.7% with this month’s trading profits, it brings the absolute returns year to date to 170%.
I bought a 2 week call option on the USDJPY at the strike of 94.15 and breakeven of 95.86, that is, 1.71bps for the cost of the premium which is pretty expensive as volatility was high. However, my technical analysis plus the news out of Japan and Abenomics, I was confident that the yen would weaken.
I bought back the option on the last day at 0.9750 for a nice trading profit of 16.8%.
I saw another quick opportunity based on technical analysis and shorted the AUDUSD at 0.9275 and squared at 0.9260.
Ok, time to update the last two trades I did in June. On 28 June 2013, Long AUDUSD at 0.9233 and squared at 0.9260.
The USD isn’t waiting for the nonfarm payroll numbers this friday, it has already staged a move against the majors.
USD moved against the EUR at 1am, dropped by 89bps.
USD moved against the GBP at 7:15pm, dropped 75bps.
USD moved against the JPY at 8:30pm, dropped by 89bps
USD moved against the AUD at 6;45pm, dropped by 29bps
So, it appears that the AUD has been the most resilient against the onslaught of the USD. Maybe the market if waiting for Governor Steven’s speech later this morning to get a confirmation of the RBA statement published earlier yesterday. You will recall; RBA held rates at 2.75%, felt that the drop in the AUD is helping the economy, feels that the economy is continuing to adjust to a different business model and less reliant on mining and resources, felt that housing is holding steady, felt that borrowing is coming back, and felt that there could be more room for currency to weaken which would help the economy
Quick scalp, long USDJPY at 0.9415 baed on fast and slow stochastic and squared at 0.9434 for a 19bps trading profit.
Both quiick scalps paid for today’s expenses.
Quick scalp, short AUDUSD at 0.9485 based on stochastic fast/slow and squared at 0.9460 for a 25bps trading profit.
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