Tuesday

Trade Update: Silver, US Tech, Copper, AUD:NZD

Here are the following new trades:

1. order to short AUD:NZD moved up to 1.33 (mini position) - Here are some better charts of AUD:NZD in the last 10 years (thanks Gav!)

AUD NZD 10 year chart

2 Our copper short was stopped out at entry. Lesson: take some profits when you see it. We could not do what we normally do (ie take half profits and set a stop at entry for the remainder half) as we held the minimum position ($0.50 per pip). We had our order to close at 32900, confident that 33000 would be breached. The low was 32875 (we missed it by the spread!). ARGHHH! I bet you these market makers know where everyone’s positions are at (for a 0.50 position??? :))

3. We are closing $10 long silver position at 1690 (profit = $ 480) and $10 short US Tech position at 1854 (loss = $75) - net profit of $405.

Long Silver $20/point at 1642 and short US Tech $20/point at 1846.5.