Trading gbp/jpy trough major pairs???

S

siki13

Lets say for example that i sold today 10 million gbp/jpy at 229.30 and buy it back later at 221.79 for 751 pip profit (645k$)
If i want to do that trade trough majors
GBP/USD and USD/JPY what would my position size be?


Here are currency rates today when gbp/jpy position was opened and closed

GBP/JPY 6AM 229.30 ,1PM=> 221.79
GBP/USD 6AM 1.9823 ,1PM=> 1.9775
USD/JPY 6AM 115.68 ,1PM => 112.14
 
Quote from siki13:

Lets say for example that i sold today 10 million gbp/jpy at 229.30 and buy it back later at 221.79 for 751 pip profit (645k$)
If i want to do that trade trough majors
GBP/USD and USD/JPY what would my position size be?


Here are currency rates today when gbp/jpy position was opened and closed

GBP/JPY 6AM 229.30 ,1PM=> 221.79
GBP/USD 6AM 1.9823 ,1PM=> 1.9775
USD/JPY 6AM 115.68 ,1PM => 112.14
More...

I'm not being a smart ass but ... why would you want to? What am I missing? I sold GBP/JPY @ 239.41, added another 50% to the position @ 238.14 and another 50% @ 232.39 and sold all @ 222.47. I'm extremely pleased with the results. Bought @ 225.58 but watching closely.

Just went flat @ 226.77 and waiting for a fresh signal.
 
Quote from WharfRat:

You'd sell 10 million GBPUSD and sell 19,775,000 USDJPY, so the notional USD exposures would cancel out.
More...

You're close. Selling at 6 AM, when GBP/USD quote was 1.9823. The replicating trade would be: short 10,000,000 GBP/USD and short 19,823,000 USD/JPY.

siki13, doing it that way would require twice the margin of the GBP/JPY trade at most dealers. For example, almost $400,000 vs. almost $200,000 with a 100:1 account. Brass balls and suicidal personality not included... trading this pair at that leverage, you could get a margin call and blow out half your 6-figure account in minutes if not seconds. Nice hypothetical example...
 
Quote from bigmrfrank:

I'm not being a smart ass but ... why would you want to? What am I missing? I sold GBP/JPY @ 239.41, added another 50% to the position @ 238.14 and another 50% @ 232.39 and sold all @ 222.47. I'm extremely pleased with the results. Bought @ 225.58 but watching closely.

Just went flat @ 226.77 and waiting for a fresh signal.
More...


Just sold @226.41. Interesting day.
 
Quote from bigmrfrank:

I'm not being a smart ass but ... why would you want to? What am I missing?
More...

This week i started to trade gbp/jpy and i was trying to figure out why was my GBP/JPY trading easier than
taking trading signals from gbp/usd and usd/jpy.
It still does n`t make sense but at least now i know what position i was actually taking.Maybe was just easy week to trade.
 
You must log in or register to reply here.
Back
Top