can appreciate all the comments you made re risk management. Very true statements. Even getting the timing and side right is only part of the bill.
its a horrific way to approach trading. He aims for an at least 5% move (to make a mil at least) but can only afford to lose 50k which translates into an adverse move of 0.25%. At current levels for USDCAD that translates into 33.25 pips. When looking at the daily range it becomes perfectly apparent even to beginners how stupid this bet really is. Zero room to be wrong, which is close to impossible to overcome.
I am bearish USD too. I think a rate cut could come, dollar would drop and equities would move higher. I'd wait just so slightly before pulling the trigger though. Wait for mon/tue/wed.
UBS Neo. Spot. No direct hedge (no other CAD pair traded). My haircut is higher that the futures. $15xx USD per pip.
Gekko: The rarest pistol in the world, Larry. A .45 Luger. Only six of them were ever manufactured. Wildman: Congratulations
Jesus, people can't read. I am essentially short synthetic USDX in spot (other unnamed pos). $1,500 per pip in *USD*... yes, it's denominated in CAD for those of you that did 5th grade twice. I'm not going to respond to BS. I'll post the eventual stop/cover.
This is what I read that you wrote: "I am short 20MM USDCAD from 1.3321 average. Short allmajors as well." Clearly this refers to cash fx or direct exposure to cash fx.
It is. Clearly. I am long more than CAD. I stated so in the opening post. I am not expecting millions in CAD. The position is synthetically short USDX.
Yes, I get that. I simply stated that I am not in any other CAD crosses. Sure, I can quote my USD exposure, but I chose not to do so. I get your point; I should have stated my net USD exposure.It's a pretty low bar on this forum and I thought I'd get "cop out" by posting the figure.