My strats are in mean reversion mode as well. I had to pay in all last week on negative carry. I am selling the Kiwi, the aussie, the sterling, and the Euro and buying dollars across the board. Anyways, it is good to talk to another experienced currency trader. Lift off is in just a few hours, good luck and good trading.
EXPERIENCED? I have only been trading forex for less than a year! My first trade was getting long CHF in AUG 2011. Thank god, because that gave me enough profits to lose to figure out how the deal works. And if I ever think I have it figured out how the deal works Just shoot me
otherwise, I'm short AUD and GBP as well. I really got killed in the GBP friday in spite of getting a really good fill. I want to get long GBP and short yen (if the opportunity presents itself) (or I might just take the hit)
I agree. The smart trade was Long the Euro into Thursday and Friday through rollover. Euro futures were overly Short open interest through late Wednesday. Buying into Thursday was the play, primary PT's covered out and final positions covered into Friday close. Sunday evening market reopen will be good for some sit back and looking for set ups, but I am glad I was flat into the weekend.
Why yes I am. However for the bias part, I have no bias. But if you daytrade why are you "building a position"? That makes absolutely no sense.