So much action...

...and so little time to talk about it! Since my recent career change, I don't have as much free time for blogging. That will change eventually, but right now I'm not in front of my home computer nearly as much during the week.
 Yes, I was in front of the screen on Black Thursday. The volatility was truly astounding. I had around 300 pips in profit on the EUR/CAD short, which got wiped out in about 30 minutes. At one point during the wild ride, my equity was all the way back to $130... and the gains were nearly all given back. That is a hard thing to watch, but it is not unusual at all in the markets other than the fact that it happened in the space of a few hours.
 Sarkozy, that little French runt, seems to have been run over by we 'evil speculators' this week... and nothing could please me more! Of course, like all good people I despise all politicians everywhere... but when these jackals make comments specifically directed at us currency traders... I definitely bring the hate.
 It was quite a while before we got any trades this week, because the ranges were so blown-out wide. Consequently several of the position sizes are quite small. Even so, the open trades are all looking pretty good, and I should be booking some nice profits on Monday morning if nothing too dramatic happens over the weekend. (...too dramatic in the wrong direction, I should say.)

Current account equity: $119.99

Results for the Week of 5/2 - 5/9

Beginning equity: $89.86

Currency        Units   P/L    Equity
EUR/CAD     115    -1.49    88.37
GBP/JPY       256    -4.78    83.59
USD/JPY       635    -4.82    78.72
EUR/CAD      391    -4.25    74.40
GBP/USD      186    -1.87    72.48
USD/CHF      499    5.27    77.58
EUR/USD      372    7.68    85.25
AUD/USD      297    4.68    89.93
GBP/USD      151    3.67    93.61

Results for the Week of 4/25 - 5/2

Beginning equity: $91.47

Currency        Units   P/L    Equity
AUD/USD     316    -2.31    89.01
USD/JPY     207    -2.44    86.57
USD/CHF     459    0.50    86.98
EUR/USD     342    1.36    88.34
GBP/JPY     106    0.55    88.89
GBP/USD     203    2.05    90.94
USD/JPY     208    -1.08    89.86

Resting No More...

With the recent downgrades of European debt, we've had some motion in the markets which has caused some trades to get triggered. Most everything is looking profitable except the USD/JPY short, and we've yet to get a EUR/CAD trade since last week's range was so wide. 'Tis only Wednesday, and anything can happen... especially with the many moron-gorilla governments throwing their evil weights around. Here are the open trades so far:

Short 106 GBP/JPY at 143.69 with stoploss at 145.85
Short 203 GBP/USD at 1.5345 with stoploss at 1.5458
Short 316 AUD/USD at 0.9224 with stoploss at 0.9296
Short 207 USD/JPY at 93.35  with stoploss at 94.46
Short 342 EUR/USD at 1.3268 with stoploss at 1.3401
Long 459 USD/CHF at 1.0819 with stoploss at 1.0719

Can we say "Looking for Dollar strength?"

Current account equity: $105.04

Markets at rest...

Last week ended up shaping up very nicely, even with several losses. The standout performers were short EUR/CAD and long USD/JPY. The winning trades outweighed the losses... and that's the plan! So far, there have been no new trades opened. Last week's ranges were quite wide in several pairs, so it can take some time for the price action to work its way towards the triggers.
 Being flat gives one some time to relax... there's no hurry, since new positions will doubtless be opening soon and the hand-wringing can begin anew.

Current account equity: $91.47

Results for the Week of 4/18 - 4/25

Beginning equity: 80.66

Currency          Units    P/L      Equity
GBP/USD        271    -2.05    78.61
GBP/JPY         136    -2.19     76.43
USD/CHF        382    -1.93    74.48
EUR/CAD        178    -1.79    72.77
AUD/USD        715    -3.96    68.80
EUR/CAD        379    10.98    79.65
USD/JPY         551       9.25   88.90
EUR/USD        469       1.77   90.66
USD/JPY         172       0.81   91.47

Thank You, Bank of Canada!

The micro-mis-managers of the Loonie today signaled that they'll be raising interest rates, and traders are taking the opportunity to bid up the CAD. The Canadian currency has risen over parity with its beleaguered southern counterpart once again. Let's see if it can stay there. I am no fan of fiat currency in general, but I will say that the Loonie is a somewhat less deeply flawed currency than is the US Dollar.
 Seditious musings aside, let's look at how this turn of events has affected the account equity...

As of last week, we were short the EUR/CAD at 1.3643. It was only about 19 pips from being stopped out yesterday morning, but is now sporting 215 pips in profit. Nice!

Two additional trades have triggered since the last update, and both are doing well...

Long 715 AUD/USD at 0.9238 with stoploss at 0.9182
Long 551 USD/JPY at 92.60 with stoploss at 91.87

Also, the long USD/CHF trade was stopped out at 1.0627 for a loss of -$1.93 or -2.53%.

So far, things are looking pretty good... which is always subject to change.

Current account equity: $92.32