Alea

This Is Not Iceland

Updated carry trade bloodbath, AUD/JPY

Posted by jck at 1:48 pm EST on October 8th, 2008 |

5 Responses to “ This Is Not Iceland ”

# 1 David Merkel Says:
October 8th, 2008 at 3:28 pm

I predicted over at RealMoney in 2004-2006 that we would eventually see a washout like this. I’m lousy at timing, but, wow.

# 2 jck Says:
October 8th, 2008 at 4:53 pm

5 years of gain gone in 3 months, I am impressed.

# 3 DancesWithVols Says:
October 8th, 2008 at 7:18 pm

Geeeez….! Just think of all those Japanese housewives who got totally smoked on this one…

I’ve seen some big currency moves (I started as a runner on the floor of the CME right on the ERM-bustup back in 1992), but this one takes the cake…!

# 4 interface Says:
October 12th, 2008 at 5:36 pm

Hi jck, thanks for all your informative posts and tidbits. Regarding the AUD/JPY chart, can you tell me which application or trading platform the screenshot came from? Are such charts available on bigcharts or stockcharts? Do you know any brokerages that let a trader do such trades efficiently (low commissions, spreads, etc)? Are Japanese housewives the only ones doing carry trades? Thanks

# 5 jck Says:
October 12th, 2008 at 6:20 pm

this is taken from “tradestation”.
for trading oanda is regulated and clean, fx brokers generally have a bad reputation (deserved), so be careful.
i think japanese housewives have been blown out, but that’s just my opinion based on where they supposedly entered the trades.