Review week 50: bit overdue
|English: President Barack Obama confers with Federal Reserve Chairman Ben Bernanke following their meeting at the White House. (Photo credit: Wikipedia)|
Result: 10,5% return on equity
2 x long on AUDUSD winners
1 x long on USDJPY winner
1 x long on NZDUSD winner
1 x long on Silver loser
I closed out my long on Silver early as an add on (second) long order on AUDUSD got tagged and I almost got a margin call. So I closed out the worst performing trade, which was the one on Silver. Turned out to be a good call, because after Bernanke's speech, Silver dropped like a rock.
I closed out all winning trades just before Bernanke's speech on Wednesday, where he anounced more money printing. I didn't wanna stick around and see my profits blown away. Looking back, would I have stayed in I would have made even bigger returns, but I thought the risk was just to big. I decided not to be greedy.
Here are the charts:
Please note the two continuation limit buy orders on NZDUSD and AUDUSD.
And here is a short limit on USDCHF
And a long one on EURUSD
All and all it looks like risk off for the coming week. I will be keeping an eye on the sentiment, especially concerning the fiscal cliff in the US and a possible (fading of the) end of year rally, which will probably push the EURO higher. All this can turn on a dime, so it will be an exiting week for sure. If things will get to exiting, I'll be getting out.
So take care and good luck trading!