Evening Round-up



We're up $268.79 on the account and $241.66 in realized P&L w/ no open trades.



We'd gotten walloped on the 200,000 eur/usd limit order long @ .9995 . I had expected a correction from the 1 - 1.0050 range to either the low .9900's or into the .9800's; the trade was stopped @ 1.0055 ( - $121.00 ) . Rather that retrace , the euro proceeded virtually unabated to 1.0090. It's currently at 1.0040 . The Tokyo and London sessions may push this above 1.01 if the dollar resumes its decline.



Dollar limit orders @ 116.09 (100,000), 115.74 (100,000) , 115.79 (10,000) , which had replaced the original usd/jpy Long trades from the low 117.00's , saved the day by returning $534.61when closed shortly after the close of the NY session for 116.21 and 116.23. A 100,000 usd/chf Short from 1.4583 placed at about 11:00 am , that closed at 1.4556 an hour later, provided $185.49 to bring the account from last night's low of 99,514.62 to 99,700 . The remainder of today's profits are entirely attributable to the usd/jpy trades.



Tonight should prove interesting - will the markets experience buyer's remorse and sell the euro , or will such a robust break above parity inspire Euro bulls to begin climbing for 1.0250 ?



I'm watching eur/jpy for a break below 116.5 as an opportunity to short towards 115.



lessons for the day :

stop loss orders are good

chasing interventions downhill is annoying and inefficient - use limit orders instead.





Bal: 100,268.79 ::: P&L: 241.66 + ( 0 )

No Open Trades