Hello Peterma, that is interesting… EuroGbp is such an interesting cross… I remember writing this
article:
https://www.forexcrunch.com/eurgbp-cycle-window-shows-upward-mobility/
It looks like the move to 0.90 is happening in July 2016… I was only late by ONE YEAR in my forecast
haha
[B]Currencies:[/B]
GbpNzd long: [B]-5679[/B] pips;
EurGbp short: [B]-1402[/B] pips;
NzdJpy short: [B]-39[/B] pips;
NzdUsd short:[B]+96[/B] pips;
[B]Equities:[/B]
S&P500 short: [B]-769[/B] pips;
FTSE100 short: [B]-705[/B] pips;
[B]Metals:[/B]
Silver (XagUsd) long: [B]-21[/B] pips;
[B]Energy:[/B]
US (WTI crude) Oil long:[B] -12[/B] pips.
[B]Doubled trade[/B] (medium-term):
GbpNzd long: OPENED on 15th July [B]+173[/B] pips;
Total drawdown is about 1400 pips lighter than last week; doubled trend in GbpNzd
will be taken off after original trade reaches breakeven (at least), as on FXCM the first
trade of two in the same direction gets closed first.
Update of 19th July 2016
Closed NZD/USD (1k) short for 132.3 pips, worth £10.08, at 0.7018…
As I opened a second GBP/NZD trade and I already have my NZD/JPY short,
I reasoned that it would be more beneficial to free up equity by closing one
Kiwi trade; this particular one had been open two weeks exactly, so it is 'short
term’ by my standards, and had done well, plus the 0.70 is a significant level
and I was happy to get as close to it as possible… A good result.
I also entered a counter-trade for Silver, going short at $19.90, because the long-term
long position I have is obviously struggling in the short-term, so a small retracement
below the $20 level, down to the 100-day moving average at $17 (or thereabouts), is
possible… I will see how the short performs, and then either close it for profit or, it
Silver should rise back above $20, close the counter-trade for a small loss.
Fat Finger strikes…
Closed my US (crude) Oil trade a couple of hours ago unintentionally, for a -85 pips P/L…
This was actually a useful accident because in checking FXCM’s Oil trading I found that for all CFDs it is an open contract EXCEPT for Copper and Oil…
I reopened a long position in US Oil after 11pm GMT and have made a note in my diary that this contract will expire on 18th August.
Closed my Xag/Usd (Silver) short for 10.3 pips, worth £3.92, as sell volume (see my last volume thread entry on Forextown) seems dwindling.
Rollover on Silver is dear: for my long, opened on 6th July, I am alreat at over £5; slow mover too… I may have to.cut this trade for a small loss; I will monitor it for a few more days.
…for a loss of about £21; will not chase the short as I have no confidence in its strength… Depending on how my Crude Oil long performs, I may or may not re-enter Silver long at a more competitive price, but both on live and on the contest demo accounts I had a few weeks of chop from both Silver and Gold, so I will just sit back and see how far they retrace their Brexit rallies…
Re-entered short Silver as it kept tumbling… just a short term trade…
Currently up 11 pips, worth about £4.
Dollar’s incredible run to 12,100 today has been partly responsible for this Silver and Gold drop…
Decided to put a stop, as I could not access real volume for this, and had no idea how much closer
it was going to move to $19…
I got stopped out for 6 pips, worth about £2.
Subsequently, re-entered short with a tight stop (6 pips) and got stopped out, losing about £4.
I am done playing this metal, at least to the downside, unless it decides to break below $19, in which
case I will consider it… I will re-enter to the upside only if there is a strong rally and it looks like the
$20 level is breached.
Why am I interested in Silver? Because I am building a fundamental picture on it that is parallel to Gold,
where both these metals will form the capital flow focus in a risk-aversion scenario: as my theme is shorting
indices from historic highs, the long-metals theme integrates with the risk-off strategy.
Silver is better positioned to the upside than Gold, in my view, therefore I would prefer it to Gold
from a technical view,
Let us see what happens next.
Closed my Crude Oil long above $46 for 52.5 pips, worth about +£4.
I decided to close this because the long-term slump below $50 seems to be dragging on, with not a lot of vigour to the recent attempts in lifting off the $44-45 area…
Being as this movement to the upside is so slow, and my Oil contracts with FXCM would have a monthly expiration, I would not be able to ‘buy and hold’; shorter-term trades are also not what I intend to do generally, so I may just keep off Oil and Metals for now, and return to nurturing/managing just my positions in equities and currencies, unless things really take a positive turn in Oil and Metals.
That is it for today… Now I will look forward to the RBNZ announcement in less than three hours…
Happy Trading
PipMyNappy 
Hello traders!
Given the incredible run by the NZDUSD last night, I re-entered a NZDUSD short this morning,
given that price has broken that great barrier that has been 0.70: while price has not moved
much beyond that, it seems that momentum is building in futures volume, so I am tentatively
back in. This is a shorter-term trade, aiming for anything down to 0.65… I will close it if
a definite retracement above 0.70 should occur.
Today I have shed up to 1700 pips of my drawdown from my maximum (about 9750 pips)…
Things are starting to look more favourable… Now the important task is to focus
and manage risk, including shorter-term trades where appropriate, or just preparing
for the time when positive P/L will begin to outnumber negative P/L between the various
positions.
Update of Friday 22nd July 2016, 9.15pm:
Currencies:
GbpNzd long: -5755 pips (trade 1) +97 pips (trade 2) = -5658
EurGbp short: -1428 pips;
NzdJpy short: +29 pips;
NzdUsd short (new trade): -11 pips;
Equities:
S&P500 short: -834 pips;
FTSE100 short: -742 pips;
Account update of Friday 29th July 2016, 8.45pm:
[B]Currencies[/B]:
[B]GbpNzd long[/B]: [B]-6162[/B][B] pips (trade 1) -310[/B] pips (trade 2) = [B]-6472[/B] pips;
[B]EurGbp short[/B]: [B]-1500[/B] pips;
[B]CLOSED:[/B] [B]NzdJpy short[/B]: [B]+85[/B] pips, worth (£6.34 - rollover (£4.41)=) £1.93. [B]REASON FOR CLOSURE[/B]: freeing up equity as other trades have returned to severely underperform at the close of this week after having significantly improved in the last couple of weeks (by as much as 2000 pips);
[B]NzdUsd short[/B]: [B]-238[/B] pips;
[B]Equities[/B]:
S&P500 short: [B]-840[/B] pips;
FTSE100 short: [B]-734[/B] pips.
Shorting equities require a big heart
That is so very true…
Hello peeps!
In the last twenty-four hours or so, I shed about 1000 - 1100 pips of drawdown,
with trades starting to realign to my long term themes; here is the balance of trades
as per today at 5.50pm (GMT):
[B]Currencies[/B]:
[B]GbpNzd long[/B]: [B]-5848[/B][B] pips (trade 1) +4[/B] pips (trade 2) = [B]-5844[/B] pips;
[B]EurGbp short[/B]: [B]-1429[/B] pips (trade 1); added another EurGbp short on Monday (1st August), currently trading at [B]+55[/B] pips; thus, trade 1 - trade 2 = [B]-1374[/B] pips;
[B]OPENED on Tue. 2nd August:[/B] [B]NzdJpy short[/B]: [B]+39[/B] pips, given that Yen pairs continue to deteriorate in what is shaping up to be sustained Yen-carry trades unwinding, led chiefly by the UsdJpy as it runs toward parity (the 100 level);
[B]NzdUsd short[/B]: [B]-171[/B] pips;
[B]Equities[/B]:
S&P500 short: [B]-704[/B] pips;
FTSE100 short: [B]-650[/B] pips.
Update of Friday 5th August, 8.27am:
closed NZD/JPY at +2 pips, to free equity after
the BoE-fuelled Pound pairs’ underperformance
yesterday.
Waiting for NFPs later today to see
how this may impact my remaining trades.
Fingers crossed for you
Cheers Eddie!
What have you got on, at the moment…GbpNzd long or was it GbpUsd long?
Both. Not huge positions, I’m protecting my account until my dry run ends. The sooner I get back on another 40+ trades winning streak the better