Trade Closed: 2007-10-16 10:56
We saw a reversion to risk yesterday that saw a sell off in carry trades and high yielding assets. The remaining portion of our trade closed yesterday as it hit our adjusted stop at breakeven.
1st Half: +51 pips
2nd Half: +00 pips
Total: +51 pips
Trade Adjustment: 2007-10-15 09:05
Greetings! We’ve held onto our trade for quite some time and it looks like the pair have been having trouble breaking above the .9000 – .9050 area. I’d like to lock in some profits and create a risk free trade.
Close half of open position at market (.9051), move stop to break even.
Our trade looks good as commodities continue to run higher fueled by a weaker Greenback. We will continue to hold and see if we can break away from .9000 and approach parity. Good luck!
Trade Update: 2007-10-10 17:35
Hello my friends! Our trade was triggered to go long and has been trading just under .9000 for most of today’s session.
Today was pretty quiet, probably due to the lack of any major economic news and we soon approach major Aussie data in the for of Jobs data later this evening. Of course, any positive surprises should push our trade higher, so let’s hope for some great numbers from the Aussie’s.
So, we will continue hold as Dollar bearishness is still prevalant and carry trades are rockin’ once again. Stay tuned for updates!
Trade Idea: 2007-10-09 20:55
Hey everyone! It’s been a while as I have been away working on a new blog format for our longer term traders! It’s not quite ready yet, but once we get a new signal we will post it up! For now, here’s a trade idea to hold us down until then….
With the FOMC minutes showing that the Fed feels that inflation will continue to decline, the Greenback lost its fight and sold off to higher yielding currencies. We will probably continue to see this theme play out until Thursday’s economic numbers. So, we will long AUD/USD as the market’s rising risk appetite continues, especially as US equities hit new all time highs.
Long AUD/USD at .9000, stop at .8875, pt1 at .9100, pt2 at .9250
Remember to never risk more than 1% of your account on any single trade. Please adjust position sizes accordingly.
Good luck my friends!