Anyone aware of any psychological/cultural/trading/other barriers to CAD > USD?
Out of interest, Baptist, if you're right, would you hold a short position continuously for 1000days, or get in and out on the way down?
Good thread
Hi Dommo,
Apart from the intertwining of their proximity and trade relations I do not see any issue, if I have understood this correctly. Given Canada's commodity strength they will be insulated a large degree by their Neghbours weakness, Canada cleaned up their defceit awhile ago..
I predict Canucks will all soon own cheap Florida Bolt holes though..as CAD appreciates
Yes I will hold a position the whole way, this one will be small so I can live through the drawdowns.. Gold retraced 15% on its way to north of $1300.
However I will trade the shorter term set ups short within this too for shorter moves, with bigger size. So the view also provides a Bias for searching out breaks to the short side.
On the Gold trade I posted up a profit statement, after being challenged, showing a £33K profit on the run up from $989 to $1006/7 which I waded into quiet heavily on a smaller Daily set up to the long side. This was primarily how I traded it all the way through.
In the Gold trade I did not retain even a small trade all the way through, something I regret greatly, and trade size was the key, we pulled back from $1225 - $1044 and had you not been in from $962 with a small size you could not have lived with the doubt and pain of that drawdown, even all of it being profit.
On Macro Moves coping with Drawdown is Key, so should get in on the move from the outset. to keep mental balance.
Thank you for the compliment ref Thread, I am considering a 'Global Macro's Thread Calls' with a few similarly big trades... even if people do not trade them maybe It would be helpful for general Bias trades..
Would it be of interest? Flag or comment if so.. Thanks trade well..