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
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? dd
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
Not a bad tumble - 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 1.8304 1.2589