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oldtime

Registered: Jun 2011
Posts: 7389

05-13-12 10:06 PM

well, I gotta go, forex starts in 15 minutes. Man, that long USD worked out pretty well, especially against AUD.

Don't have a clue this week.

Usually the chop follows the trend.

My rule of thumb is any good trader should expect to give up 30% of the move.

So here's to ya all of those that were short. Stay with it and it's my gift to you.

70 for me, 30 for you, I can go for that.

Not sure how I will play it this week. Dollar neutral sounds like an account preserving strategy.

I made my money, now I just want to hold on to it.

I'll let you young kids figure out how to make it.

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total_keops

Registered: May 2008
Posts: 1421

05-13-12 10:14 PM

Dont forget to look at the negative carry on a short AUDUSD.

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oldtime

Registered: Jun 2011
Posts: 7389

05-13-12 10:28 PM

Quote from total_keops:

Dont forget to look at the negative carry on a short AUDUSD.

no kidding!

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oldtime

Registered: Jun 2011
Posts: 7389

05-13-12 10:55 PM

Quote from total_keops:

Dont forget to look at the negative carry on a short AUDUSD.

I was trading AUD exclusively from the long side for about two or three months. It was great while it was moving up, especially against EUR. But now on the way down I have to deal with the chop and the carry.

I've been trading forex almost a year now, but I don't get the carry and how to compute it or even for that matter what it is.

I know at about 10 pm est when they don't cut rates AUD goes sky high.

I have a lot to learn.

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oldtime

Registered: Jun 2011
Posts: 7389

05-27-12 08:57 PM

well, I gotta go pretty soon. Still haven't learned how to intrepret things when USD is closed and everybody else is open. Things have improved once I switched from market orders to limit orders.

I've got my limit orders in. If you're stupid enough to hit them I'll gladly take the other side, especially on a night when things may not be as they seem.

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oldtime

Registered: Jun 2011
Posts: 7389

06-17-12 05:22 PM

For those of us that hold over the weekend, the opening gap is always kind of a crap shoot

The way I see it, half the time it goes in my favor and half the time it goes against me

but if I get flat 100% of the time I pay the spread

gotta go see dad today, it may be his last Fathers Day

but I'll bring the laptop to see if this gap is all it's cracked up to be

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