Trading Account

Trading Account

Monthly Trading Results

Monthly Trading Results

Thursday, March 19, 2009

Trading results 3/19

Opened 2 long positions that were both closed for a profit. Opened a third long at 1.5352 that is still open. The SNB announced today that there could or will be future foreign exchange interventions on their part to make sure that the Franc doesn't appreciate against the Euro. My reading is that this puts a floor under the EUR/CHF pair but at what point no one knows. I'm not sure if that will lead traders to push downward to find that level or if greed will take over and everyone will buy the dips and sell the rips regardless of what the SNB does. Either way there should be plenty of opportunities to open based on the daily divergence.

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