Edition 310 Wednesday, August 4, 2010
Edition 310 Wednesday, August 4, 2010 |
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Commentary by Andy Jordan
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Weekly Spread Scan ExampleThis week we look at FXC - FXA:
Today we consider an ETF spread: long CurrencyShares Canadian $ and short CurrencyShares Australian $ (FXC - FXA). The ETF currency spread has been in a down trend since early June, from about 12.70 down to 5.50. The spread traded at the current level for several months in early 2010. Will this level hold, and can seasonality (08/02 – 08/27) help move the spread higher? A breakout above the current 1-2-3 low might be used as an entry signal. Traders with a larger margin account might want to trade this spread in the futures market. |
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Previous TradesOn July 8 we told subscribers of our professional daily spreads & position/swing trading newsletter Traders Notebook, "Consider entering a Soybean Meal calendar spread: long March and short September Soybean Meal (SMH1 – SMU0) at -9.5 limit GTC. Suggested risk is $400; suggested first target at -5.5, then higher. Basis is seasonal (7/12 – 8/5). Comment: Spread has been in a range for several months now. The spread is now trading at the lower side of the range."
Here's how we suggested managing this trade: 07/09 It seems we have some traders in this spread (see today’s email). This is ok as long as you are not holding a huge position. Suggest exiting on a close below -12.5. Visit our Spread Website for more information about our daily newsletter, Traders Notebook. |
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Andy Jordan made his first option trade at the age of 18. Since then he has been fascinated by the world of trading. In 2002 he met Joe Ross, and became interested in spread trading. Andy was then intensively tutored by Joe Ross and personnel at Trading Educators. Andy is the founder and president of Jordan Trading, S. A. Even though Andy has shown through live chats and in several trading journals that he is able to day trade today's markets, spread trading has always been his preference. In addition to his own spread trading activities, Andy is the editor of Traders Notebook. For those interested in one-on-one personal coaching, Andy has developed and instructs an online course in spread trading, "Trading Mentoring - Trade with a Pro," during which he demonstrates all aspects of trading from choosing the trades on through how and when to enter the trades, manage the trades, and exit the trades.
Andy Jordan was born 1965 in Germany, but is currently living in the Caribbean. He has studied mathematics and business administration in Regensburg and Hagen, and holds a PhD in mathematics.
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Joe Ross is the discoverer of the Ross hook™, and has set new standards for low-risk trading with his concepts of "The Law of Charts™ " and the "Traders Trick Entry™." Joe was a private trader and investor for much of his life, but a serious health situation in the late 80's caused him to shift his focus, and that is when he decided to share his knowledge. After his recovery, he founded Trading Educators in 1988, to teach aspiring traders how to make profits using his trading approach.
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