Oldtime, how does it work when you are trading a non USD based pair in a USD account? I've always avoided these pairs in a USD denominated account because isn't there a double exchange rate to consider? For example: short eur.aud -> short eur.usd X long aud.usd
you tell me I'm just a beginner I know no matter how I do it I have a hell of a lot of carry to overcome I've traded this Cad in the past and when all said and done it was profitable everynow and then Jack Larkin shows up and tries to straighten me out difficult for me to talk to other traders because sometimes I am just talking about one pair, and other times I am talking about the whole portfolio
You're a beginner. You had all of 2012 to play with this. I was trading XAUUSD last year. I've only been trading forex in 2013. All of this gets rather complicated. Example: Short EUR.AUD Short AUD.USD But Short EUR.AUD => Short EUR.USD X Long AUD.USD. So if you're also shorting AUD.USD, you just cancelled out the Long AUD.USD. Conclusion: I guess you should have just gone short EUR.USD This spreading must leave you scratching your head at times wondering how much redundancy you have built into your trades. Not a criticism; just an observation.
yes, I've talked about this many times at 1 to one you might as well just put on the cross but as one side gets lopsided it is just as difficult to figure out what you actually are like I said, whatever I have on, I put the cross up on my screen but what am I if I am long 2 aud.usd and short 1 eur.usd? Or 3 to one?
it all started when I was long chf against 3 currencies and short chf against 3 currencies I had 80 pip stops in on everything that was the night of the snb peg my losers traded through the stops by as much as 20 pips but you know what happened to my winners I got flat and just started thinking and it kind of progressed from there at first there was a lot of cancelling, but then I started averaging down and then I started adding to winners and then I started making some kind of consistent money although it certainly hasn't been a straight road up but it beats the heck out of guessing what ES is going to do
Yes, I know. This is where I start scratching my own head. Now, if you threw a long aud.eur, I would wonder what was going on inside of your head. This is why I am inclined to stick to pairs where the base is the same as the currency of my trading account.
because I am worried about a move in usd in this case I am 25% exposed long usd.cad in the other case, my base could be moving all over the place I was betting on a stable usd now I am betting on a stable cad
it's kind of a bass akwards way of thinking about things theoretically, before I was 50% long and 50% short usd now (if I ever get filled) I will be 25% long usd But right or wrong, I want to be exposed to something that is moving
Why is that? Could it because you want to profit from its direction? I can see the balancing act you're playing, but in the end you too are looking for that directional trade. If you get it right, you make money, otherwise you lose money. So, I'm back to where I was. Investments traded in USD. Forex trading with one currency pair: EURUSD. So far, I'm in the red on my most recent trade. Lots of people do focus on a single item to trade and do very well.
where you been kid? all spread traders are directional, it's just we like trading the spread better than the outright it's been that way since the beginning of time