Sunday, May 1, 2011
AUD/USD - Closing 1/3 of Our Position
We got a couple of things coming down the pipe in Australia... House Price Index in about 45 minutes... Index of Commodity Prices at 2:30 a.m., the R.B.A.'s interest rate statement on Tuesday at 12:30 a.m., building approvals and retail sales on Wednesday... I decided that I will lower my exposure to these upcoming events. I just closed about a third of my position in the AudUsd for a gain of 236 pips. If I am awake when those statements are announced, I'll have some free margin to play them. If I am not, at least I do not risk waking up to a big loss in my portfolio.