- Difficult week here. Book was short AUD+Copper+S&P+Nikkei vs monster long CAD.
- As P&L deteriorated, reduced overall risk. Because of continued losses in trying to call a top to equities earlier along the way, decided to get rid of the short Equities completely instead of trimming evenly across the Risk Off basket. Bad mistake. Misplaced phobia and stupid desire to minimize the number of positions managed. Turns out equities leading way down, the others stubbornly holding.
- Attached chart shows AUD/CAD and Copper short term up moves. Longer term view still down for both, that's why positions are held. Expect both these charts will follow the S&P formation in due course.
- Gold remains positive, in my view; key is maintaining right position size so as not to be shaken out by the short term volatility and yet not feel one hasn't got enough on board as it rises. Tricky. Comes down to understanding self.
- Core view : De-Risk .... Trading Hedge against Core : Short USD/CAD.
6 comments:
T: just curious which moving averages you plot
8- and 21-period Exponential .. I don't base any trading decisions on them, just to make charts look prettier.
I don't plot any but it does look pretty !! What do you make of the WC so far - what a disappointment from Italy, France ...
Starting to get exciting now that teams are facing sudden death. Was disappointing the 1st week. Last night's game between Italy and Slovakia is the best so far in terms of drama. Hope for more!
"Just to make charts look prettier" LOOL
When is EURUSD and AUDUSD going to fall???
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