Monday, May 14, 2012

Monday 14th May 2012

I can't believe I did almost no trades last week (apart from a loser in USDCHF).  I kept waiting for pullbacks that never happened.

Monday is my hospital day so only one trade and I will post charts tomorrow.
This morning I bought GBPAUD, sterling is strong, AUD is selling, there was a nice 1hr wedge consolidation
GBPAUD hourly
GBPAUD daily

New  Trade:
GBPAUD long 1.6060 stop 1.6010 target 1.6360

Open trades:
USDJPY short 80.83 stop 81.33 target 78.36
EURGBP short 0.8140 stop 0.8175
Brent June short 116 stop 116.30(1/4 position)
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7 comments:

  1. AlexMay 15, 2012 at 11:36 AM

    Hey Nicola - Glad to see you're updating your blog again!

    I notice that you generally hold a bunch of positions at once. Do you pay any mind to the correlations of each position, for instance being long 1 unit risk of EURUSD and long 1 unit risk of EURAUD - might be pretty similar to simply being long 1.5 units of EURUSD due to the correlation.

    Thanks!

    ReplyDelete
  2. NicMay 15, 2012 at 12:37 PM

    Yes I do, I wouldn't add a correlated position until the first one is in profit and protected. Or I look at the total risk.

    ReplyDelete
  3. AnonymousMay 16, 2012 at 12:52 PM

    Hi, where do you have your target on EURGBP?

    ReplyDelete
  4. AnonymousMay 16, 2012 at 8:36 PM

    Hi....just found your blog. Can I ask....what software/platform do you use?
    Thanx

    ReplyDelete
  5. AnonymousMay 16, 2012 at 8:38 PM

    Hi....just found your blog. Can I ask....what software/platform do you use?
    Thanx

    ReplyDelete
  6. AnonymousMay 16, 2012 at 8:38 PM

    Hi....just found your blog. Can I ask....what software/platform do you use?
    Thanx

    ReplyDelete
  7. Money World Research Pvt LtdOctober 30, 2013 at 11:49 AM

    I really appreciate your post and you explain each and every point very well.Thanks for sharing this information.And I'll love to read your next post too.

    Regards
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    ReplyDelete

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