Volatility is low, so it’s increasingly more difficult to do intra day spot trades.
I felt the timing was more appropriate for options so decided to execute the following options: –
1 Month GBPUSD Put Option – Strike at Spot 1.2565, premium at 129bps and BE at 1.2436
1 Month USDJPY Call Option – Strike at Spot 108.85, premium at 1.43yen and BE at 110.29
Let’s see what happens.
I really did not know which way the market is going to move but there was enough buzz in the markeplace to generate sufficient volatility to do my straddle.
At about 1:56am Singapore time I decided to place two straddle trades with the following details: –
EURUSD; Stop if Offered 1.0600, Spot at 1.0630, Stop if Bid 1.0660
USDJPY; Stop if Offered 114.23, Spot 114.53, Stop if Bid 114.83
All SLs at 30bps away.
I decided to square the USDJPY 3 minutes after the announcement at 113.70 and the EURUSD 5 minutes later at 1.0690.
Trading profit of the USDJPY was 0.53yen and EURUSD 30bps.
Not too bad, was hoping for a bigger move, then again, we should be thankful for good and safe trading profits.
I decided to Long USDJPY at 112.90 with a SL at 112.70.
When USDJPY reached 113.35, I squared half the position for a trading profit of 45yen.
Later on when US opened, the USDJPY just didn’t seem to have any more steam and just when I almost decided to square the position at 112.93, it rebounded and I squared the position at 113.31 for a trading profit of 41yen.
What luck!
Looking at the 4H chart, I couldn’t really see any clarity in the situation of USDJPY, don’t know whether to Long or Short.
However, go to the 15M chart, then, all of a sudden clarity comes into the picture. The spot rate cut above the 50MA at 112.87.
I was out for lunch so couldn’t really do anything, however, I decided to put in a Long, Stop If Bid at 112.90 with SL at 112.70.
As it turned out, my trade was triggered and I am now Long USDJPY at 112.90. Current spot is at 113.28. Let’s follow the spot position and see what happens.
Cheers to all.
I was suffering from insomnia last night and couldn’t sleep, so I decided to turn on my computer at 4am in the morning.
Straight away I noticed that the USDJPY had crossed both the SMA 50 and SMA 200 moving averages.
I immediately gave chase and placed a Long USDJPY at 113.50.
I squared the position before leaving for my 9 holes golf game at 10:30am at 114.68 and locked in a trading profit of 1.18yen!!!
Long USDJPY at 115.31 and squared at 116.40 for a trading profit of 1.09yen.
Short GBPUSD at 1.2696 and squared at 1.2616 for a trading profit of 80bps.
Long EURUSD at 1.0586 and squared at 1.0645 for a trading profit of 59bps.
Long USDJPY at 113.57 and squared at 114.14 for a trading profit of 57yen
Long EURUSD at 1.0595 and squared at 1.0620 for a trading profit of 25bps.
Short USDJPY at 114.25 and squared at 113.95 for a trading profit of 30yen.
Long USDJPY again at 112.50 and squared at 113.66 for a trading profit of 1.16yen
Long USDJPY at 112.50 and squared at 112.90 for a trading profit of 30yen.
I am born in the Year of the Tiger.
The Panthenon Investment Group 