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Wednesday, 3 September 2014

Shares Punt - Take profit on EUR/JPY; open short on CORN

I had a profit target of €20 on EUR/JPY (good enough return on a €100 bet) and closed the position when it hit this target.

Having a look at "Risers and Fallers" in the Plus500 database, I see that Wheat and Corn (commodities) are falling sharply. I tested Wheat, but found that the maintenance margin for the minimum holding was over €100, so passed on to Corn. I opened a short position on Corn, with a target profit of €50.

My target profit on EUR/USD is $225, because of the propability of a fall around the time of tomorrow's meeting.

My total Maintenance Margin for the two continuing positions (EUR/USD and Corn) is at present €94.56.

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