Trading Consultants Inc. Weekly Review June 16th
We wrote in April “Trading Consultants Inc and its partners will always share the facts as we believe them to be. The surprise election that was called by PM May was the kind of event that always seems to take all but the elite by surprise. These events are why we rarely use more than 10% of our margin so that when its needed to handle the surprise we can deal with it rationally and without emotion. Some observations are important to us as we always strive to improve” .
Nearly 50% of our open positions are positioned for decline of the British Pound, and our charts still remain clearly in agreement . We have been able to miss the dollar decline but failed to capitalize on that decline as none of our monthly charts were convincing enough for us to take action. SO now about 45 days later we are recovering from a massive surprise still intact and all chart patterns are with us long term Reminder we trade from the monthly charts.
A review of pairs open June 16th
Pair Size Position (Full Position about 10 lots plus minus 2 lots)
- DAX 30 CFD 6 lots – -131 K hedged
- AUDCAD 2 Lots short -14.4 K
- AUDJPY 1 Lot net short -7.5K
- CADJPY 1.2 lots short -1.3K
- EURAUD 3 Lots short -17 K
- EURCAD 6.5 lots short -31 K
- EURCHF 4 Lots short -7K
- EURNZD 1.5 lot short -1K
- EURUSD 6.5 Lots short -40K
GBPAUD 15 Lots short -54K
- GBPCAD 6 Lots Short -37K
- GBPCHF .
- GBPJPY 20 Lots Short -61K
- GBPNZD 1 Lots Short 1K
- GBPUSD 2 lots short -5.5K
- USDCAD Closed no position
- USDJPY Hedged 7 net short -30K
All pairs and CFD’s traded can be seen there if you are Forex Factory member and a buddy of TurtleMan.
- Jon, and I occasionally Adam as our newest intern review our trade created charts. We agree on one for each pair that is the consensus choice for what is the current Controlling PA. By design we rarely add verbiage to our charts.
- We review leverage and size of all open positions.for an update regularly for our leverage at 13 to 1 as of Sunday prior to market open You can check here. Trade report If the link is not available you can view the entire account access via this portal used by commercial accounts to showcase their strategies and results.TurtleMan’s 51566 Trading Consultants Inc
- We meet via skype or in person at 4-6 PM EST ( 9-11PM GMT ) to smoke a great cigar and have a single shot of a nice single malt.
- After review, we conduct a board meeting that takes about 15 minutes then we are done.
Margin Level is 612.21 % $140,381 controlling about 12MM. dollars of currency and contacts in pairs, CFD’s, and Dow 30. Our unrecognized loss is $455,600 about 8 % of our open contracts.
Net equity $859,742 representing a -11.5% loss to date . The best is on its way . To those who counted us out in April you simply do not understand the swings that monthly charts require you to endure….