For your benefit I'll spell out my trading on Friday.
I put down $100,000 on the table and shorted the aussie @.69.
After about 30 minutes or so, the aussie took off against the US, rising to above .70. I was down and down big time.
So I put another $100,000 down again shorting the aussie @.70 cents against the US dollar.
I watched while my losses increased but I was nonetheless confident that the Dow would drop and with it the strength in the US.
I was right.
The aussie rose to about 70.40 I think before retracing all the way to 68.80 which is where I exited both positions.
Previously that same day I took a small lose on Crude Futures for December delivery.
The upshot of it all was at the end of the days play, I was about $100,000 UP.
Not a bad days effort but still nowhere near the $256,000 I made overnight shorting the aussie against the US previous.
So that is my full disclosure for the week.
A few warnings.
Always put a stop on any futures trades....not to close mind and NEVER and I mean NEVER put anything onto the table that you are not prepared to loose outright.
That has happened to me twice dropping $100,000 on both occasions.
I am not going to tell you how much I am in front over all as you no doubt will either disbelieve me or in some other way abuse me for so doing, so I will not.
But suffice it to say, I do have a formula and some rules and I do a lot of research etc. But that said, the market can soon move against you and when it does, be prepared to either take the hit at the level you have marked or hang onto the those two things between your legs {if you are a boy of course} and wait for the retreat.
I never hold any position longer than 24 hours in any event.
In these volotile markets there are opportunities.
You just have to get the timing right and that is half the battle.
The other trick is to know when to fight and when to run away.
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