I've been in the AUD/USD selloff for about a week and a half since 09/08/10 (sell position at 0.9168). Is it just me or is the rollover rate just killing profits... I expect the currency to fall a lot more but I'm beginning to think I should just take whatever profit I have at the moment..
I have 4 positions in this pair..
position 1 (rollover -$19.56)
position 2 (rollover -$8.15)
position 3 & 4 (rollover -$9.78)
With a few positive rollover rates from a couple of my long position on the USD/JPY total rollover is at -$36.23... With the 4 A/U positions I can estimate my rollover will be around $10-15 NEGATIVE PER DAY...
I am lucky im not using much larger position sizes.... I can't really afford this pair to range, if I don't see a few larger pushes downward I'll have to close all positions..
What are your thoughts on rollover rates and do you find they can take a large chunk of your profits when position trading?
(I should have sold the E/U instead with MUCH less rollover rates.... a mistake I wont make in the future when position trading)
cheers
Pierre
I have 4 positions in this pair..
position 1 (rollover -$19.56)
position 2 (rollover -$8.15)
position 3 & 4 (rollover -$9.78)
With a few positive rollover rates from a couple of my long position on the USD/JPY total rollover is at -$36.23... With the 4 A/U positions I can estimate my rollover will be around $10-15 NEGATIVE PER DAY...
I am lucky im not using much larger position sizes.... I can't really afford this pair to range, if I don't see a few larger pushes downward I'll have to close all positions..
What are your thoughts on rollover rates and do you find they can take a large chunk of your profits when position trading?
(I should have sold the E/U instead with MUCH less rollover rates.... a mistake I wont make in the future when position trading)
cheers
Pierre