Updates

Update: 16 February 2016

Sorry for the short update today am exhausted. Markets started of well with Asian equities universally in the green. There was optimism over oil due to the meeting in Doha between oil ministers of Saudi, Qatar, Venezuela and Russia. As a result oil was up over 5% earlier in the day. Unfortunately despite claims the meeting was a success, all that was agreed was to continue at the rate of production in January (i.e. no cuts!) and oil quickly wiped out all of its gain and went into the red, taking euro equities with it and banishing risk appetite from the market. US equities did perform better however and there has been some positives today.

Trading on HF:

We made a very small loss today due to some very unlucky circumstances. We had multiple profitable trades on USDCHF and EURUSD. We also capitalized on NZD weak inflation expectations to profit from selling the NZD, however unfortunately our SL was hit in green at 0.6610 before the pair proceeded to fall over the course of the day to 0.6550.

We had unsucessful trades in AUDUSD and GBPUSD, both of which we sold. I cut them at a loss, when they did not seem to work out and were headed against us. 1 hour later, when they were massively against us, I felt very clever and happy with my choice. Unfortunately, later in the day they went the way we wanted and had we held them, we would have added more than 9,000 USD to our equity. Its annoying to see this, but given our exposure and what happened after I cut, I still think that in hindsight I think given the information available to me at the time I did the right thing. After all, had they kept going against us and we held, it would have been a disaster. I guess we can just say we were unlucky today, but we should count our blessings that due to profitable trades, the realised losses were minimum ($200) and our account still remains in NET Profit.

Lets hope for better luck tomorrow. Sorry for the brevity, just so exhausted.

Mohammed

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