08 May 2013

Core Book : Gone Horribly Wrong

  • Short Copper vs Long AUD/USD. Well and truly fuxxed by RBA rate cut. AUD lower, Copper higher, spread bleeding.
  • Reduced the Copper short around 317. Still holding on to some.
  • AUD/USD weekly chart looks like nearing support levels, so reluctant to cut loss here as well. Unlike some people out there, I do not see an AUD collapse anytime soon. Range bound.
  • Markets can make time and/or price consolidation. Reckon USD/JPY doing time consolidation above 97.50 (a cooling off period if you will, after recent sharp moves). Push higher to come still.

1 comment:

Anonymous said...

Hi TS, Perhaps its the break you had - the mind needs to readjust after being away from markets for a while. I never 'get' the reason for hedging. When things go well your profit is reduced and when things go bad its potentially double bad. Why not have conviction trades with clear stop losses. The SL will be less painful than a hedge gone wrong, and if you're right the profit is full (unhedged).