Guru trade
- Thread starter Tsing Tao
- Start date
U/H still alive on doing well.
Short AUD/CAD position opened this morning at 1.0508. Target a return towards PAR. SL set right around 1.0595.
Long USD/JPY position entered from 78.65, with target pack towards 80.60, and tight stop below 77.90. This one I am not as much confident of.
This is the time to buy dollars, in my opinion. The cycles call for a major risk peak between now and middle of next week (closer to mid next week). If am I wrong, I am wrong. That is what stops are for.
We shall see. I believe we're about to enter a period where high yielding currencies, particularly emerging market ones, are going to become very dangerous to be long. I am positioned accordingly (not just the above posted positions).
Wish me luck.
Short AUD/CAD position opened this morning at 1.0508. Target a return towards PAR. SL set right around 1.0595.
Long USD/JPY position entered from 78.65, with target pack towards 80.60, and tight stop below 77.90. This one I am not as much confident of.
This is the time to buy dollars, in my opinion. The cycles call for a major risk peak between now and middle of next week (closer to mid next week). If am I wrong, I am wrong. That is what stops are for.
We shall see. I believe we're about to enter a period where high yielding currencies, particularly emerging market ones, are going to become very dangerous to be long. I am positioned accordingly (not just the above posted positions).
Wish me luck.
U/H is up approximately 1500 pips at this point. Will watch closely for resistance in the 243 range and take profit accordingly. Stop moved just below 230, locking in about 450 pips of profit.
A/C is up approx 75 pips, still waiting for major AUD breakdown to occur, though inflows in rush to safety of AUD debt is slowing what should already have occurred. Stop moved to break even.
U/J still alive, not looking all that hot, down about 40 pips.
Other positions I have in short EUR/TRY (doesn't count because I didn't call them mention them ahead of time, so talk is cheap) are looking nice from 2.29 - these are great carry pairs that are relatively safe (due to EUR weakness).
A/C is up approx 75 pips, still waiting for major AUD breakdown to occur, though inflows in rush to safety of AUD debt is slowing what should already have occurred. Stop moved to break even.
U/J still alive, not looking all that hot, down about 40 pips.
Other positions I have in short EUR/TRY (doesn't count because I didn't call them mention them ahead of time, so talk is cheap) are looking nice from 2.29 - these are great carry pairs that are relatively safe (due to EUR weakness).
Haven't posted in a while, but I felt like resurrecting this thread. Remember, these are long term trades, nothing here within less than a month's time (unless, of course, the stop or profit is actually hit). Trades taken will show size, stop, target and expected timing. As always, timing is subject to change (and usually does) as market events dictate. I rarely change stops (just to raise them to break even, etc) and never change profit targets.
Long EUR/AUD 250,000 units @ 1.4075. Stop 1.3685, Target 1.5250 (Q4 15)
Long USD/TRY 150,000 units @ 2.59, Stop 2.51, Target 3.00 (Q3 15)
Long EUR/AUD 250,000 units @ 1.4075. Stop 1.3685, Target 1.5250 (Q4 15)
Long USD/TRY 150,000 units @ 2.59, Stop 2.51, Target 3.00 (Q3 15)
EUR/AUD deteriorated, but setup still has chance to run. Cross my fingers.
USD/TRY setup is quite positive, stop moved to break even (trade is now up 1200 pips).
I had forgotten to update this, but figured I should. The EUR/AUD trade had looked as if it was going to be stopped out awhile back (came within 5 pips of my stop!!) but ended up being a good trade after all. It closed last week. Total profit, $21,575.
USD/TRY long is looking good - up from entry of 2.59. Stop moved up to 2.76, locking in 1,700 pips.
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USD/TRY trade looks like it's exhausting itself. Stop moved up to 2.88, locking in 2600 pips.
I should also note that even though the target was hit overnight (3.00), I did not have the actual TP set at 3.00 (I tend to place my TPs and SLs a little off the number I post on the forum, but not by much). So while it hit 3.00, it didn't hit my TP (missed it by just a tad). So the trade is still in place at 2.96 and change.