Anyone Trading the British pound Around This Joint?

D

DrawDown

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
 
Quote from Jayford:

yep, I am.

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

I am a $ bull, cable bear.

Jay
More...
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
 
Quote from Jayford:

yep, I am.

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

I am a $ bull, cable bear.

Jay
More...

Is this based on a fundamental or technical view? The 2 seem to oppose eachother at the moment.
 
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:
1.8304
1.2589
 
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