Clipper Ship Trades: Sold USD/RUB at 33.3226 to Close Position

Wednesday, September 4, 2013

Sold USD/RUB at 33.3226 to Close Position

Gross profit is 2.1R. I held it for slightly more than 1 month. Apparently trading the RUB involves quite a substantial foreign exchange swap rate. Quite unlike most Forex pairs I traded which have very negligible swap rates. I incurred a swap equivalent of 1.1R.

Hence net profit is 1R. Well, well, something to take note of when trading the RUB in future.

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My Trading Approach

Risk management is paramount. I risk 1% (defined here as R) of my trading capital on any ONE trading idea (It could be anything, really! For instance, maybe, I dreamt of a rotten apple, so I find some instrument that allows me to short AAPL ). I use stop losses to limit my risk to 1%.
The trend is my friend, so one of the first things I do is determine the primary trend and stick to it.
My approach is to buy near support preferably after it shows signs of rebounding. Similarly, I short near resistance preferably after it shows signs of falling. Sometimes I go for breakout setups with specific stocks.
I go for a reward/risk of at least 3:1 in my favour. Otherwise, I do not take the trade.

Clipper Ship Trades

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Wednesday, September 4, 2013

Sold USD/RUB at 33.3226 to Close Position

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