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