grrr british

Thank you for your patience, our trades are still live and active in the market as they have been for the past few days. Have a great day!

Yes....great news for our account, but it is not sticking as much as I would have hoped. Today is a new day and we will see what it brings! :) Take care.

Greetings,

As you may know, we have not placed any new trades for around 2 weeks now as we have our large EURCHF trade and EURGBP trade running live in the markets. There was hope for Swiss National Bank's Jordan to speak about raising the peg for the EURCHF today during his talk about 20 minutes ago, but that did not happen. He did, however, state clearly that he would defend the 1.2000 peg at all costs and the price is currently at 1.2013. The EURGBP trade is the one that is pulling our account down dramatically. If you are a forex trader, you will recall last week April 17th, there were 4 news releases for the EURO that were all much greater than average, including the CPI, Economic Sentiment, and Manufacturing data.....one was the highest for years. After this fundamental news we added to our current EURGBP long/buy position and since then it has turned against us. We did have a moment of momentum when the GBP has some negative news the other day, but then today Spain had its rating dropped by 2 levels and our trade was hurt once again. We monitor these trades nearly 24 hours a day and have full access to news feeds, etc to better help with our decisions. We have been in drawdowns prior and recovered without much issue and are hoping that this time will be the same. We scaled out of a small portion of our EURCHF long today, but still have large orders in both currency pairs. We plan to post another update here tomorrow...thanks for reading and have a nice day as we continue to do our best.

Thank you for your update.