Monday, July 27, 2009

Cover UC+++ Sell GU +

Biggest trade of the year. 200+ pips on multiple lots; I made some choices in this trade which paid off. I will try to be more agressive when I see a clear trend like this in the future. In fact, the trend is not over by any measure but I like my odds of finding a re-entry price this week for another test of bottom. Political events causing me to consider how far below the BOC comfort levels we are(See Black Swan's report here.

As expected GU also bounced back. I took a modest profit at 1.65. No, I didn't, I took a very nice profit of 50 pips at 1.65 =) I had average price around 1.6450 on Friday's close.

Experimenting with smaller range bars than normal. Liking what I get. In the summer sessions the ranges are contracting so it's better to adopt a more hit and run style than normal as profits are evaporating faster than usual. If you scale down far enough there is always a trend to be had.

Here is a recap of some trades I took earlier today.

It's been a good day as you can see.

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