Weekly Futures Positions Review – November 16, 2008

Weekly Futures Positions Review – November 16, 2008

Top posts from the past week:

A review of my futures trades from the previous week:

  • Covered my short of 10-Year Treasuries – Unfortunately I got stopped out of this position. I was either early on this trade, or wrong – is there a difference? Though I’m primed and ready to reinitiate this position if we see interest rates skyrocket like I think they will.

Other existing positions I’ve got:

  • Short the British Pound – Last time I shorted the British Pound, it turned out to be a quite profitable trade. The fundamentals of the Pound Sterling are terrible – and that huge rate cut just delivered by the Bank of England will not help protect their currency.

My wish list (waiting for an uptrend…and we could be waiting for awhile):

Open positions

Date Position Qty Month/Yr Contract Entry Price Last Price Profit/Loss
10/10/08 Short 1 DEC 08 British Pound 1.6870 1.4728 $13,387.50
Net Profit/Loss On Open Positions $13,387.50

Account Balances

Current Cash Balance $39,595.05
Open Trade Equity $13,387.50
Total Equity $52,982.55
Long Option Value $0.00
Short Option Value $0.00
Net Liquidating Value $52,982.55

Cashed out: $20,000.00
Total value: $72,982.55
Weekly return: 3.5%
YTD return: -4.9%

***”Cash out” mostly means taxes, but lately I’ve also been using it for living expenses, and also to finance a time management software startup I’m working on.