current holding positions for the week:
Shorted AUD/USD at 1.05600 and long on GPB/USD at 1.62074
-mike
were/how will you exit both trades
The GBP/USD trade is a good one, since you’re going with the daily trend, however I’m not too sure about the AUD/USD position, that pair has been ranging for quite a few days now. How long do you expect to hold these trades?
Please elaborate on why you are holding those positions. I would close out your GBP/USD soon, it’s reaching huge resistance soon and traders will look to release some profits …
When you say traders, are you talking about us retail traders or the big dogs? because no matter what us small guys do I don’t think it will make a difference.
I don’t have a crystal ball so I don’t know what the retail or commercials are going to do … but based on historical price data, when there is a trend for a few weeks and approaching a period of minimal liquidity (xmas, easter etc), price tends to retrace which shows profit taking. No-one likes to hold a winning trade open for a few days …
I’m exiting aud short at 1.0400 before I don’t get charged too much interest and GBP position at 1.6300.
I’m liking a short on USD/JPY. ANYONE ELSE???
Aud did well on shorting last week. Dropped below the 1.04 mark. Gpb however isnt getting as weak as I thought but still in it.
My position for this week is short on aud again. Entered at 1.03890 and letting it ride down the hill.
Merry Xmas !
i think the most important aspects before a trade is have a plan and especially an exit plan before entering
once you’re in a trade, your judgement will be clouded and biased!
always have a system or rules that you follow!
discipline + money management = keys to success !
Gpb isn’t increasing (weaker) ****
For the short term I decided to buy aud at 1.3600 on Monday until it turns back around. Seems a little bearish right now before it heads back down.
I’m almost about to exit out of my long aud position…the 1.05 mark seems like a strong resistance area
THe 1hr and 15 min show much the same story
1/7/13 position:
i shorted the yen before market closed friday afternoon on jan 4th.
i got this weird feeling that the yen will gain a little strength this week against the dollar…but long term the yen is def. losing ground vs dollar
-60,000 contract @ 88.082 usd/jpy. probably going to get rid of the yen contract after a 10-15 pip gain (if it does hopefully)
Could have made more than 15 pips. I’m looking at the Aussie. It’s rebounding off of the psychological level 1.05
Next trade is going to be a long term position . My short term are less than one day (24 hours ) . Long term is any position longer than 24 hours.
I’m liking a long term buy on the NZD/USD. I got in at 0.88700 and will accrue the rollover on it until it hits for a good profit.
The new Zealand dollar has been on my eye for the last few weeks and finally looks like a solid uptrend
Big short on aud USD at 1.05440 after Chinese news bumped it up almost 50 pips
Play safe… Current up trend very strong at the moment