- Forex tags:
- Australian Dollar
_aioseop_keywords: Forex, USD, Australian Dollar, Euro, Gold
I just closed out my second carry trade experiment and it was both lucrative and hair raising at the same time.Â I went long AUDUSD, EURUSD, and XAUUSD in several positions and once again it was XAUUSD that saved my ass.Â My aggregate loss for AUDUSD and EURUSD was about 100 pips each but my win for XAUUSD was 3100 pips.Â When I closed my positions I madeÂ a net profit of about $11 but that was after weathering aÂ $60 drawdown, whichÂ completely wiped out this year's gains on paper.
I really don't like the risk I'm taking with carry trading and I have to figure out how mitigate it.Â My trading statistics show that my strategy is working well but my average losses equal my average winnings, which is a bad thing.Â You always try to keep your losses small and your wins big but that's easier said than done in these currency markets!
Right now my account return is over 50% for the year with December posting a record 30% account growth!Â I'll post my Forex results spreadsheet in the members section later today.