Anyone Trading the British pound Around This Joint?

Discussion in 'Forex Trading' started by DrawDown, Jun 19, 2006.

  1. Never have been able to make consistent money trading cable... but finally opened a short @ 1.8502 Sunday.

    Interest has finally kicked over into the USD's favor (not by much but enough to draw money round the clock in a short direction) so I thought I'd take the plunge.

    Plus, GBP/USD has moved almost 2000-pts this year - mainly UP.

    As far as I know, that's the most volatile pair showing we have so far, exceeding even the British pound against the yen.

    Surprising, it dropped all the way to 1.8370 after I opened my short so I cranked in profits opening and closing several follow-up shorts.

    Plus, shorting it (in the direction of gaining interest), with its 2000-pip move this year, I can drop down into a scaled-type trade if it decides to go against me, but, boy, it's expensive!

    Anybody trading the British pound short?

    It's just a fluctuation,

    The DrawDown
  2. yep, I am.

    I am mostly a day trader, but not with fx (too choppy).

    I am a $ bull, cable bear.

  3. Hey, Jay.

    So, you're not day trading GBP/USD, I presume.

    Are you attempting a longer time frame, then?

    What is your motivation to short the British pound against the dollar?

  4. Ya, the cable is the only pair I trade discretionarily. I love it for longer term swings, usually go for 100+ pips. Its pretty easy to predict, flows nicely. Tempting to hold longer sometimes as hedge against the us dollar heh
  5. StreamlineTrade

    StreamlineTrade Guest

    Is this based on a fundamental or technical view? The 2 seem to oppose eachother at the moment.
  6. I trade the CME British Pound. I'm still not comfortable putting money in fx markets.
  7. Not a bad tumble :D - snapped up 75-pts on a TP Limit order last night while I slept.

    Back in short @ 1.8288.

    Anyone else book some cash?

    The DrawDown :cool: