I have so much learning to do i would be long usd/jpy
Thanks. Appreciate it. I’ve been using small lot size and selling again if needed.
The trader I’ve been following has been selling GBP 2 months now. I think i will continue but might start using TPs. I figure Boris can be relied upon to say something to cause the markets to briefly dump at least once a week.
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straddle and short GBP!
Yes, nothing wrong with the lot sizes proposed - again it all depends on the size of the account, the risk you are willing to take, and obviously the mindset when you are down.
As a rule of thumb I always tell people to go in small, and then halve it - you could be down 150 pips and only down £150 and it doesn’t hurt, or you could be down £2.5K and it might hurt you just thinking about it.
Also nothing wrong with scaling in and selling again or buying again, if you have a smaller position size you can do this effectively as well.
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actually there are tge same number of positive swaps as negative. eg if you short EUR USD you will earn interest but if you go long you will pay interest.
Unfortunately, this is not true. Brokers build a fee into the swap rate, just as they do the spread, so all but the most positive swaps end up negative.
Pulling up the AUDCAD, for example, shows me that my broker offers a -5.36 swap long, and a -2.15 swap short.
Swaps are to swing traders what the spread is for scalpers.
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Thank you. That’s very helpful
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I think you need a better broker. I don’t have that issue.
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Possibly you are right; I was trading the H1 when I chose this broker, so swap rates were not a factor I considered. But I have yet to see any broker that offers positive swaps on all their currency pairs.
If your broker does so, please let me know who you use, so that I can look into them.
Do you have a strategy you are currently trading profitably? If so, continue to trade that and then look into swap rates of currency pairs. You can apply this strategy with larger stops only to pairs that will give you a positive swap until you build confidence in it or decide it doesn’t work for you.
It is just an idea and something that I sort of practice as I do often have carry trades open that pay me a bit of swap each day and then close them for profit when I feel it is time.
Im one of those stopped out guys, hehe… LOL 
Just a little update. Few trades moving where I want them to be moving.
When I was £4K down - people were worried for me.
I wasn’t.
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Hey @The_Baller, going off one of your previous posts.
Do you ever account for trend lines? For example, EUR/CAD lagging shows sell but if the trend is correct, you would go long
Also, regarding your earlier post, I need your help understanding some of your calls.
EUR/AUD (you are going long but I don’t understand why) I see short.
CHF/JPY (you going long, is it because you hitting the bottom lagging line?)
I think I actually understand shorting EUR/CHF
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After a revision of stop loss here’s where i stand for the week, total ROI 18%. Not quite as stunning as last week due to the revised position size (only want to risk 10% per trade) but profits are profits and I’m well away from this weeks noise. The random losing CHFJPY trade i fat fingered because I was trying to put on a trade whilst the misses was driving… Bad idea.
Thanks @The_Baller .
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I’ve still got 3 open trades, with one I’d like to make a point about for anyone following this thread and thinking of trying it yourself. Hold your nerve.
The EUR/AUD wasn’t going well yesterday until later on in the day, I wobbled and put on a counter trade. Big mistake. Now I’ve got a trade on against the trend that’s in the red.
Trust in the bigger picture and don’t do it.
This is precisely why I’m trading a demo account for a few months before trying it for real.
I’ll stop hijacking your journal now.
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Hold your nerve. Enough said.
Latest. Draw down is temporary and usually turns into profits.
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