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Good News Day

July 24th, 2007 at 11:32 am

Mum is OK - she had a tetanus shot and a diptheria booster for the wound on her hand, and is on antibiotics, but she was lucky and didn't break anything or get a concussion when she passed out and fell head-first into the bedroom wall. She was even feeling well enough to have us over for dinner this afternoon.

Meanwhile, my AUD/USD forex trading has been doing well - going long the AUD in the recent strong uptrend has made back some of my previous trading losses. I put a total of A$4,000 into my forex trading account and was down to A$1200 at one stage. My balance is now back up to A$2240 with the AUD at US$0.8847. If the Aussie dollar reaches 90c US I'll be close to break-even on my trading account. I've still managed to lose a bit of money every time I try to "day trade" the short term ups and downs, but the general uptrend has continued as I expected. If I'd just started out my forex trading with a smaller positions and thus allowed a larger margin buffer (so I didn't get liquidated on short-term dips in the AUD) I would have made a profit from the overall trend. Then again, any gains I make from my forex trading are really just hedging the currency losses on my US stock portfolio.

Today the Australian stock market was back up 40 points, more than making up yesterday's drop to close at a record high. So my stock investments and superannuation account balance are looking good.

Copyright Enough Wealth 2007

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