With nothing much going on with news, there's really a lot of indecision inside the Forex markets nowadays. The USD having depreciated so much as of late I don't feel convinced continuing to short it. I have hedge some of my emerging market stakes current from the USD by buying the USDCAD which is currently in the base of it is weekly , daily range. Let us see how it goes... http://www.omegasupreme.com
Current Date 11-Oct-10
Realized PnL 9.43% NAV (Realized Unrealized PnL) 31.94%
Feeling a bit uncomfortable in the FX markets now, all indiions against emerging markets inform me that we're likely to see some risk adverse behaviour. I'm planning on closing a few of my USDHUF and USDTRY trades soon while letting my USDCAD commerce hang on for a while longer...http://www.omegasupreme.com
Current Date 12-Oct-10
Realized PnL 9.45% NAV (Realized Unrealized PnL) 32.58%
SP-500 (Realized PnL) 5.06percent
TSX (Realized PnL) 3.57%
OmegaSupreme Strategy Sharpe
Typical OmegaSupreme Yield 8.13percent
Standard Deviation of Returns 1.35percent
Risk-Free Yield 2.00percent
Sharpe Ratio 4.52
SP Index Fund Sharpe
Average SP500 Yield 3.75percent
Now's rundown of transactions and market comment was live blogged on Twitter. You are able to observe the actual posts in my twitter feed at http://www.twitter.com/uupstart feel free to add me since I'm posting my transactions and market comment live during the trading day.
Trading the volatility breakouts today was a tiny bit hairy since there wasn't any real discernible trend as price chopped and whipsawed a little. If you did not have your wits about you personally, you might certainly end up on the incorrect side of the trade and get whipsawed a little.
Here are today's trades. They resemble a lot of transactions, nevertheless I actually had made 3 transactions in total. Two Longs and 1 Short, nevertheless part of my egy is to have some of the commerce out in profit on the way, essentially banking some profits instantly and letting the rest ride on to more profits or to break even a few pips. Click the read more to find out the current transactions and charts and more information
Open Date Close Date Symbol Action Open Price Close Price Pips
11.16.2009 09:55 11.16.2009 10:17 EURUSD Buy 1.49783 1.49791 0.8
11.16.2009 09:55 11.16.2009 10:13 EURUSD Buy 1.49783 1.49858 7.5
11.16.2009 12:17 11.16.2009 12:26 EURUSD Economy 1.49147 1.4908 6.7
11.16.2009 12:17 11.16.2009 12:23 EURUSD Economy 1.49147 1.48874 27.3
11.16.2009 14:04 11.16.2009 14:09 EURUSD Buy 1.49989 1.50096 10.7
11.16.2009 14:04 11.16.2009 14:10 EURUSD Buy 1.49989 1.5006 7.1
Trade 1) Volatility breakout on the long side on this EURUSD Forex Pair, it was a Small tough call despite jumping into that trade early in the New York Session at 9:55AM EST.. I managed to truly ch about 7.5 pips out ofa 10 pip move. The movement was very fast and had a pretty good retracement straight away. For all intensive purposes the trade was a good one, volatility on the 1M and 5M chart was at a very low point and started to quickly expand. So I took the commerce from the path which price was going once it broke the 1.4975 price barrier. It stalled fast and that I took about half the trade and banked it profit just for plogical sake to be honest. The rest I took out fast since price was quickly turning back and I did not feel like having to nurse a loser. Luckily since it is possible to see price took a nose dive when Ben Bernanke spoke now.
Trade two ) I really don't generally trade the news but this time it was too tempting to resist and so I did and wound up with an excellent trade nonetheless. 27 pips on the USD Bullish news from Ben Bernanke's address that he along with the Federal Reserve will believe in a Strong Dollar coverage.
Trade 3) As you can see this last arrowvolatility breakout into the lengthy side, and had broken down the 1.4975 barrier past 1.5000 so I got in driving a fast wave. Again somewhat messy, but on the first half of the trade I managed to close 10.7 pips and the next half 7.1. With price rapidly turning back again I did not need to nurse a loser so quickly closed out the trade.
All in all a fantastic trading day.