This is one heavy read for this saturday!

Thx to CultureofLifeNews

Derivatives Beast Is Over Half A Quadzillion

“Derivatives Market Grows to $596 Trillion on Hedging
The market for derivatives expanded at the fastest pace in at least a decade last year as the global credit crisis spurred trading in contracts used to hedge against losses, according to the Bank for International Settlements.

Derivatives, including those based on debt, currencies, commodities, stocks and interest rates, expanded 44 percent from the previous year to $596 trillion, the Basel, Switzerland-based bank said in a report today. The amount of credit-default swaps protecting investors against losses on bonds and loans more than doubled to cover a notional $58 trillion of debt.

“The credit crisis supported growth” of the market, Naohiko Baba, an analyst at BIS who co-wrote the report, said in an interview. “Fixed-income markets experienced big turmoil so had more hedging needs.”

Elaine is so right! No System can grow at this pace without falling of the cliff sometimes in the future!  It will suck up all wealth created in the last decades and some more! 

My Cable positions got stopped out @ 1.9800!

Original Position GPB/USD +130 Pips

First Add-on +65 Pips

Second Add-On -46 Pips

On Friday I made 5 Trades.

Two Gold Long  Positions @ 925.90 and 922.00 which got stopped out..

One EUR/JPY Long @ 163.84 got also stopped out.

I have a Long @ GPB/JPY and CHF/JPY still open.

My GPB/JPY Position is double the average Position Size as there is great Price Action in my humble opinion.

GPB/JPY 4H Chart->

I know i did again not find the time to post my News Wrapup but hey, I am an freaky undisciplined blogger *g*

“Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Eduction alone will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent.”

- Calvin Coolidge

My GPB/CHF Long got stopped out!

(i had a position also open @ USD/CHF which i did not publish here and got also stopped out.)

When u look at the charts now price went my way @ GPB/CHF :(  i lost because of a few pips.. No Problem..:D

My Cable Position went great and i doubled it on the way up!

Also Better then expected Retail Sales gave this rally a push!

( Retail Sales -0.2% vs -0.5% expected)

Original Position +165 Pips

Add-On +101 Pips

Tonight I will do a News Roundup ! I feel i did not do one for to long and also i will begin working on my Tools Page where i show all the (mostly free) Programs I use to stay  Up-to-Date and manage this information.

Have a nice day!

 EDIT: i added another position on the cable and move all stops to 1.9800!

I wish I could join the march on Washington D.C. !

To all Americans reading this! Hear RP`s message and support him before it is too late!

What a absolutely great video!!!!

I love her singing those words !!

This is only the beginning ! Let`s set some more minds in flames!

I longed GPB/CHF @ 2.0255 with SL @ 2.0180 and TS of 45Pips.

I also bought GPB/USD @ 1.9671 with an SL @ 1.9608 and TS of 35 Pips.

The Trailing Stops are because i will leave in 1 hour and cannot monitor those positions !

I did 2 trades today..Long GPB/CHF and long GPB/JPY

Both got stopped out.I won`t take any other trades today!

EDIT:  okay i won`t say “i won`t take any trades today” again ;)

Sometimes opportunities form when u don`t expect them..i plan to long GPB/CHF after the current 4H bar closes!

I Closed all trades and in doing so finish this trading day!

Have a good one! ;)

I added a Gold position @ 915.45  and opened a long GPB/JPY @ 204.02.

Positions actual status as follow ->

Original Gold -> +16.55$

Gold add-on + 5.85$

GPB/USD +34 Pips

GPB/JPY +44 Pips

I planed to pyramid on gold and gpb/usd but I think about closing them and taking my profits off the table.

Price action is not in favor of continuation of those shortterm trends.

Of course if they continue I can get in @ an better price again..

I will take another 20minutes to decide on this..