Learn to trade by following my own personal trading blog.
I placed four trades today — or more correctly, I placed four orders; let’s see how many get filled. Here they are documented below:
First is an order to go long GBPCHF:
Next up, an order to short EURGBP:
From these two trades we can infer that the GBP rally will continue — if these analyses are correct.
Third on the list is short AUDCAD:
And last but not least, short AUDCHF:
In addition to the long GBP and short AUD views that are implied, there is also a contradictory view on CHF; I’m long it against AUD, but short it against GBP. I’m fine with this, though I think it is worth noting and observing.
If all these orders get filled — which is a big if — I’ll be risking 1% of my account balance. That is my maximum risk tolerance, so I won’t be putting on any other positions until I can move to breakeven or close out positions if these four get filled.