Managed Currencies Commentary

Triton closed out the day yeterday, tacking on to the session’s gains throughout the day, ending up about 3.5%, was terrific. And today gave it all back, off 3.5% or so and now flat. Bummer. See below for commentary on trading from the manager. For you guys watching your accounts the allocations are being updated so they are off, showing down more than they are. I’m told they’ll be correct by one o’clock CST at the latest.

Devrim making back some and up a bit on the month.

MWC off for a few days in a row.

Bankedge still not doing much after a few months.

Blended in a 7% drawdown or so, ouch, dropping his leverage.

From Triton:

What a days trading that was… not many trades and some great movement and in an ironic twist not many things actually set up for me to take advantage of the movements.

What did set up fizzled out to nothing pretty quickly which is a really pain but we don’t know that’s going to happen until the day is over and I suppose it was just my turn to give the forex market a cash refund.

Hopefully todays results will put some reality back into the trading results we have previously seen and the day is not over yet with one trade still open on it. I’m not holding my breath at this stage with the way the day has gone I’m simply not like that, but the trade set up and was valid so on it went. There is no risk involved with the open trade so if it doesn’t work out then it will cost nothing other than time invested in the trade and will hopefully do some damage recovery for the days losses.

Mentally I’m still in a good place which is the most important thing after a few monetary losses. I always ask myself, “Can I place the next trade both physically and emotionally?” With tight risk control on the account I can physically place the next trade as I’m not taking reckless trades with my money (or your money J ) which helps with the next part, emotionally it is still only less than 2% risk (a lot less normally) and I never look at the dollar value pips and percentages are what I work in and both are well within my risk parameters.

The next thing I ask myself is “Did I do everything I said I was going to do prior to the trades and during the trades?” in other words did I follow my plan. Yes I did, so emotionally I consider these trades winning trades, they just appreciated a monetary loss this time.

All in all I followed my plan to the letter and I would do the same thing again tomorrow. A few news Items threw a spanner in the works for the patterns I look for which is unfortunate the prevailing trend usually works these things out 6-7 times out of 10 and Bernake’s comments didn’t do us any favours.

Tomorrow is another day and that is now what I’m preparing for.

GBPJPY

Rollover trades

4/6ths position +25

1/6ths position +120

1/6ths position +110 closed today

New trade – break even position

4/6ths position +20

2/6ths position -35

new trade

6/6ths -75

new trade

6/6ths -40

GBPCHF

Rollover trades

4/6ths position +15

1/6ths position +110

1/6ths position +230 closed today

new trade

6/6ths -60

new trade

6/6ths -75

CADCHF

Rollover trades

4/6ths position +20

1/6ths position +100

1/6ths position +50 closed today

CADJPY

New trade

6/6ths position -20

EURJPY

New trade

Currently open zero risk involved on full position

Please keep in mind that I am reporting the “position” and not what you will see on the reports due to the way brokers execute trades and as previously stated some of the profit/loss will already be booked on the accounts.