Aug 9 – Market Analysis

George’s Trading

  • My positions – AUDCHF hung on for the whole day yesterday.  I actually watched it during the 10pm price fix.  I took a screen shot shortly after 10pm to get an idea of the spreads on each pair at that time.  The spread on AUDCHF extends out to around 15 pips.  Thus if I have a position close to the stop loss at the time of the fix, then I would most likely be stopped out during the price fix – that’s a little problematic – but I guess that’s how it goes (see above screenshot!). The market traded at my stop around the time of the RBA announcement and my position was closed, with a 1/10th of a pip slippage – not bad.  This was another full loss in terms of the position, it was a 0.45R loss since I only allocated ½ R to the trade.
  • In summary thus far – 13 trades, 2 winners, 1 BE and 10 losers – thus far I am down 2.2R.  My unit of risk is currently at £1k, I will keep it at this level until I do start show some winners – but we will need to increase it over time, in order to fully leverage the bankroll.
  • At the moment I am only trading the STAM strategy – I have a number of other tasks on my Trading list – but at the moment I don’t have the time for getting to them!


General analysis

  • Equity markets – No big change in equity markets yesterday.  Gold has rallied back up above $1,300.  Oil is steady.
  • FX markets – no change in rankings or points. AUD is gaining on the basis of the employment data and RBA announcement.

Specific Analysis – S1/S2 setups with strength/weakness combinations

EURAUD – currently in retracement, no sign of bullish price action.

AUDCHF – currently in retracement, no sign of bearish price action.

No new orders to enter into the market.  Remember if there are no setups, then you don’t play around looking for things to trade – just think of the discipline strategy.  However do keep an eye out to see whether something is changing on EURAUD or AUDCHF!  Well most likely they will set up simultaneously in any case.

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