Hi roller,
Looking over your positions, it appears you have more of a hedge going than an actual carry trade basket.
To carry trade, a trader would look for pairs that are OS or OB and that appear ready to move in the direction that would be
"interest earned positive" and give you appreciation on your investment in terms of
"pip appreciation", with a following stop.
You are short the USD/CHF& cad/jpy which debits your account, as well as long eur/usd which debits.
Traders get burned when trying to carry and the pair they position in is ready to correct ( which some call unwind ) Having gone LONG the gpd/jpy when it corrected to about 221.50 and than hold with a following stop would have been the time to enter the carry, or cad/jyp at around 100.00. Than you'd begin to have a true carry basket put together. As for me, the gpd/usd is not worth carrying, interest paid to low and a volitale pair....even interest debited is nominal....so one can choose to positon trade without high carry costs.
To me it appears you have a few positions that would offset each other (hedge)....though you are still net pos on your trades interest. With oil as it is, cad/jpy was/is a great trade to be long (maybe ready to correct ).....cad appreciation vs yen, plus interest. Be careful on the gpd/jpy carry tonight with gpd bank minutes due out. Market is VERY long pound and short the yen......
Hope that makes a bit of sense. Others may explain it better than I.
Best of Luck
Looking over your positions, it appears you have more of a hedge going than an actual carry trade basket.
To carry trade, a trader would look for pairs that are OS or OB and that appear ready to move in the direction that would be
"interest earned positive" and give you appreciation on your investment in terms of
"pip appreciation", with a following stop.
You are short the USD/CHF& cad/jpy which debits your account, as well as long eur/usd which debits.
Traders get burned when trying to carry and the pair they position in is ready to correct ( which some call unwind ) Having gone LONG the gpd/jpy when it corrected to about 221.50 and than hold with a following stop would have been the time to enter the carry, or cad/jyp at around 100.00. Than you'd begin to have a true carry basket put together. As for me, the gpd/usd is not worth carrying, interest paid to low and a volitale pair....even interest debited is nominal....so one can choose to positon trade without high carry costs.
To me it appears you have a few positions that would offset each other (hedge)....though you are still net pos on your trades interest. With oil as it is, cad/jpy was/is a great trade to be long (maybe ready to correct ).....cad appreciation vs yen, plus interest. Be careful on the gpd/jpy carry tonight with gpd bank minutes due out. Market is VERY long pound and short the yen......
Hope that makes a bit of sense. Others may explain it better than I.
Best of Luck
Proper Prior Planning Prevents Piss Poor Performance