Friday, July 23, 2010

To trade or not to trade?

So, NYMEX was awesome. We took a tour of the museum they have on the ground floor of the building, then went up to oversee the trading floor. They DO still do pit trading, it's just a much lower volume than it was before the advent of the internet. I didn't see too much hand signaling, but there were a lot of beefy, red-faced guys yelling at each other from a distance of less than a foot, so it was still entertaining. I told Leena that I'd be interested in trying that, and from the look on her face, I'd definitely get trampled. (The urge to make a Biblical reference to Daniel and the lion's den is pretty strong . . . Oops, I just did.)

This Wednesday, we visited the Museum of the City of New York. I had been there before, but only briefly during the Museum Mile festival for the tail end of the Charles Addams exhibit, so it was cool to be able to explore all three levels of the building. The best exhibit (really, the only good one) they had was about the NYC mayor during the '60s, John Lindsay. He was like the JFK of NYC, and not only was the exhibit really impressively set up, the objects and documents they had displayed were really cool as well. I had never heard of him, but the tour guide was informative and told us the entire Democratic love story.

I haven't blogged much lately because I've just been bouncing around the museum, helping out with whatever needed to be done. That means that I've gotten to spend some QT with Jess and Julia in the library, and with Sumati and Angelica in front of iMovie. We finished updating the library today, which was pretty exciting for me -- but way more so for Jess and Julia, considering that that project has been their baby for about a month. Sumati also finished interning yesterday, so I hope she and Angelica were able to finish their video! I spent a lot of time showing them the video equipment and software, but I didn't get to see the finished project. Today, I am starting research on hedge funds for an as-of-yet unnamed project.

As for trading, I am getting a late start, because I just got in the game today. I opened a position of 200,000 units selling USD/CHF, because the graph looked like it was beginning to peak, and I personally believe the price is going to go down. I set my boundaries really far apart, if for no other reason that to just be able to keep a position open for more than a few hours. Also, as incentive to stay current with the news, I opened a position of 200,000 buying EUR/USD, because DailyFX said that the dollar is getting stronger. Again, I want to keep this position open just to be able to monitor market fluctuations, so my boundaries are huge. Wish me luck!

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