The happy chaps and chapesses at Credit Agricole have banked 480 pips from their EUR/USD short from 1.3780 entered last December. They remain tilted to a short bias and selling rallies against USD and AUD.
I know we like to rib the bank trades from time to time but I was very impressed by the way that the strategist kept an open mind on both sides of the trade.
It’s one thing to be vociferous and strong in your beliefs but we must always be willing to see both sides of a strategy. We need to be aware of what can go wrong not what can go right as that is what costs us money.
So hats off to CA for the trade.
