Global Macro Trading Journal

Quote from ralph00:
Doesn't mean the price can't move against you and force you to post collateral though.

The EU has done what they set out to accomplish by order more than a year ago, and that's effectively ended CDS on sovereigns.
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Any trade you do could move against you and cause mark-to-market pain, indeed. That's not a reason not to do the trade, but it's definitely a reason to size it appropriately (especially if you're leveraged).
Quote from Daal:
I meant short bonds and short CDS
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Yeah, I hear of a lot of credit guys doing these. Unfortunately, credit isn't my forte and these are not mkts for dilettantes.
 
I find it hilarious that the ECB donkocrats won't allow their bonds to be haircut. Its ok the threat of bankruns to exist as banks face losses but god forbid an institution that
-is allowed to print money
-does not have to borrow from anyone
-has no use for its own capital
-has plenty for profits and future profits

is allowed to take losses. Brilliant
 
Quote from Martinghoul:

Any trade you do could move against you and cause mark-to-market pain, indeed. That's not a reason not to do the trade, but it's definitely a reason to size it appropriately (especially if you're leveraged).

Yeah, I hear of a lot of credit guys doing these. Unfortunately, credit isn't my forte and these are not mkts for dilettantes.
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Are you in any big trade lately?
 
Lol look at the Euro...

Next crisis probably is China calling on the US to get a grip on it's curreny once more...

After which the Euro will drop again... and needs to be saved again...

Lather, rinse, repeat. :)
 
Very pleased I covered half 500 pips ago, and not so pleased I didn't cover all even as I saw the writing on the wall. With a smaller position, I don't mind hanging on awhile longer to let things settle down a bit and see what's what.

The euro deal is nonsense - a political deal, not a deal to solve the debt issue. What has me more worried is a worldwide easing. BoE has already done it. The ECB will cut before year's end. The Fed is talking QE3. China is imploding and they are going to ease as well. Maybe even Japan gets into the game. These actions could be very bullish for commodities and commodity currencies.

I remain quite long American equities (as well as TEF:) ) and long TBT calls:).
 
Quote from ralph00:

Very pleased I covered half 500 pips ago, and not so pleased I didn't cover all even as I saw the writing on the wall. With a smaller position, I don't mind hanging on awhile longer to let things settle down a bit and see what's what.

The euro deal is nonsense - a political deal, not a deal to solve the debt issue. What has me more worried is a worldwide easing. BoE has already done it. The ECB will cut before year's end. The Fed is talking QE3. China is imploding and they are going to ease as well. Maybe even Japan gets into the game. These actions could be very bullish for commodities and commodity currencies.

I remain quite long American equities (as well as TEF:) ) and long TBT calls:).
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Thanks, I asked it because I shorted at 1.0620 (x position) , 1.0690 (x position) and 1.0750 (2x position). This rally is not even giving time to pass. Not sure how long it might continue though.

My best trade during this Euro deal came through when I went long euro at 1.34 after the weekend announcement by Markozy that they will find something concrete (2 weeks back) and held it till 1.38. Had I still kept it open, it would have been interesting, but with the high leverage I trade, its important to close positions quickly for sake of risk management. Move in silver yesterday and today was amazing.

At some point I will look to fade this rally with more size. I will either do it when price is still going up or on a confirmed downside break.
 
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