Wednesday, February 10, 2010

Three New Trades Triggered

...and all five existing trades are in the red! This sort of action is totally typical of this system. It is quite curious to me that the bounce in US equities seems to be over almost before it began. It is still possible that we'll get a higher bounce, but so far, the markets are looking very weak. The Formerly Great British Pound in particular has reversed quite hard since yesterday, along with most other risk appetite correlated assets. So here we are... where we go from here is anyone's guess, but I'm guessing that US Dollar-shorts will be showing more losses. Luckily By design, my trend-filter has kept my position size smaller by 50% on these counter-trend trades, so the losses will sting less if they are realized. That's what trading is really all about... managing losses.

Long 285 EUR/USD at 1.3775 with stoploss at 1.3598
Long 358 AUD/USD at 0.8771 with stoploss at 0.8630
Long 246 GBP/USD at 1.5747 with stoploss at 1.5542

Current account equity: $192.33

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