Get Long The GBP

Truer words have never been spoken.
In all seriousness though, we have to see some retracement sooner or later.

 

Absolutely but timing (when to get in/when to get out) is everything. Not just because something "should" happen.

 

Unless you're a position trader and you don't care about any of that.

 

What is the point where you would scratch the trade?

 

FYP

 

Checking on the charts since this call, I'd like to ask:
how much have each one lost on this call?

 

D'oh. I'm amazed that so many people can miss a simple point.

 

I'm not approaching the pound with any "game" style like I do my daytrades. It's simply a conversion of my US dollars to pounds, just like I converted my dollars to single family homes after 2010. If I lose money, or don't make a dime in 5-10 years, it won't bother me one bit.

 

I still don't get it. What's wrong with that? Well to start with, you could have traded aligned with a strong trend and made money on those conversions with a higher probability of success than trading against it. If losing money or not making much is OK for you just because it's not a leveraged bet then the question should be asked why you are in this business in the first place...

 

Yes you don't. Just like everyone who laughed at me during the housing crisis.