NIRP

USDNOK Shorts Win 5,300 Pips

USDNOK Shorts Win 5,300 Pips

This entry is a follow up to our original Short USDNOK Pays Off Well piece published 9 April 2016. Since then, we have closed out all our trades on USDNOK and have booked a total of 5,370 pips of realized profits. This translates into roughly +6.28% of unlevered returns. This piece is therefore to update readers and followers as well as to provide the last concluding bits of our thoughts.

We've been immensely busy for the past few weeks and had no time to post new trading related content on these pages. Safe to say that the markets have been even busier with a bombardment of macro & central bank events jostling prices around. In today's short entry we'll give you a final breakdown and some concluding thoughts on our short USDNOK trade complex.

Short USDNOK Pays Off Well

Short USDNOK Pays Off Well

Update: Our base short position has been closed out at 8.1650 via a buy limit take profit order, for a profit of 3,010 pips, or +3.55%.

It's been a rough week for the markets but that doesn't stop us from sitting on more than 3,300 pips of floating profits on our 2 USDNOK short positions. Recall that just last week, we closed out our USDTRY shorts for a handsome profit (fully documented in our trade journal). What we didn't publicly reveal was that we were already short USDNOK well before we published that article.

There's a lot that could be said about our current trading books. There's a lot going on and it reflects the busyness in our heads. No surprise here as we've been getting some crazy moves across the various markets we monitor and trade, especially in currencies. We won't go into the details in this piece but will briefly explain why we took the trades going long the NOK (Norwegian krone) against the USD. 

Long Risk Call Profits

Long Risk Call Profits

We were right on once again. Exactly a week earlier, we made a public call for global stocks to rally. Specifically, we were short term bullish selected equity indices including but not limited to the SPX (S&P 500), the Hang Seng index (Hong Kong), and other emerging market stocks. We couldn't have been more on point.

Because exactly 7 days after making that particular call, the SPX (we specifically traded this) rallied more than 60 points (+3.1%) at its highs on Friday, reaching our preset primary objective of 2000 on the index. Now that this has passed, what next? In this short trading piece, we share some of our thoughts.

EURNZD Up 1,200 Pips & Short EURAUD

EURNZD Up 1,200 Pips & Short EURAUD

Well that escalated quickly. Our short EURNZD complex has ballooned to 1,200 pips of unrealized profits. We've revised our targets after our "primary target" (as seen on the charts) was achieved. We're keeping this new "secondary target" private. Just 2 days ago we penned a note on our Trading Journal that we were heavily short the euro ahead of this Thursday's December ECB event risk.

Heavy Short Euro Ahead Of ECB

Heavy Short Euro Ahead Of ECB

Just on the EURNZD alone, we're up well over 550 pips on our 3 short positions. This figure may possibly swell past 800 pips in the next few days as the market awaits a much anticipated December ECB, where Mario Draghi is widely expected inflate the size of the ECB's already gargantuan QE Bazooka, and push interest rates deeper into negative territory. We've made our intentions apparently clear on these pages - that the euro will see more downside and we want to be well positioned to capitalize on this.

EURNZD Shorts Up 600 Pips & Updates

EURNZD Shorts Up 600 Pips & Updates

After winning 280 pips on EURAUD last week, we approach this week with relative caution because we felt the bulls would step in to defend key technical levels on the euro. And defend those levels they did.

On Monday itself, we went short for the second time on EURNZD. The pair had pulled back into our "breakout pullback selling zone", where we believed the sellers would step in again. We are now collectively up more than 600 pips on both our positions.