Get Long The GBP

equally applies to equities. Or did you buy British banks on the Brexit day because you thought they are cheap?

profitlocker said:
I can daytrade anything that moves, as long as I know when the volatility expands. I stick to equities, because that's all I need. For me, taking advice on daytrading from you is like taking advice from a bum on the street. No offense
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My pound position is being funded by a non-margined IRA which holds about 10% of my net worth. I generally don't overnight non-tangible assets, but with an IRA my options are limited. I use tracking stock FXB to average into it.
 
and your point being? That you can take some pain? Sure you may, but why would you, if you could trade aligned with technical trends and fundamentals of other currencies and equities? I never understood the flip side of my argument that some people make.

profitlocker said:
My pound position is being funded by a non-margined IRA which holds about 10% of my net worth. I generally don't overnight non-tangible assets, but with an IRA my options are limited. I use tracking stock FXB to average into it.
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Zzzz1 said:
profitlocker suggested that very clearly mentioning his day trading account. But of course I was only speculating. Fact remains it has always been a horrible trade to trade right into the abyss in the face of strong momentum...but hey, pound is only down 200 pips since OP. Only someone with extremely deep pockets and potential holding periods measured in years can afford to do so, Buffet comes to mind...I rest my case.
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Either deep pockets or a good money management method that will keep them in the game even if it goes to 0.80 so that they can bank good returns when it hits 1.7 or higher again. None of this will happen overnight but it's actually a high probability play. Remember CHF in August 11?
 
Zzzz1

I see the point your trying to make, but I don't technically or fundamentally time these kinds of purchases. If it looks right to me I start accumulating.
 
Zzzz1 said:
and your point being? That you can take some pain? Sure you may, but why would you, if you could trade aligned with technical trends and fundamentals of other currencies and equities? I never understood the flip side of my argument that some people make.
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I'm still taking issue with your use of the word pain. Who's in pain? A well funded and well positioned play on this has a good probability of working out. Again, drawdown is not always necessarily bad, you just have to position and scale in properly. True this will yield small gains for a small investor but a guy with some funds behind him can make some easy money here over the medium to long term. If you prefer to trade shorter term that's fine too, just don't say that the longer term play is a bad idea because there are plenty of people who will be contemplating gbp longs now and know exactly how they will play it to make money.
 
good luck to them.

Have a nice day trader said:
I'm still taking issue with your use of the word pain. Who's in pain? A well funded and well positioned play on this has a good probability of working out. Again, drawdown is not always necessarily bad, you just have to position and scale in properly. True this will yield small gains for a small investor but a guy with some funds behind him can make some easy money here over the medium to long term. If you prefer to trade shorter term that's fine too, just don't say that the longer term play is a bad idea because there are plenty of people who will be contemplating gbp longs now and know exactly how they will play it to make money.
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