I am currently in a situation where myself and another trader from the UK agreed to trade, both sent off the packages, and neither of us has received. Nor did we send with any sort of trackable postage. How long should we wait, and what should we do with the trade? Should we cancel it, redo it or what?

How long have you waited?

about 60 days.

Yeah, 60 days should generally be enough.

What you want to do with the trade is really up to both of you to decide. The trade was agreed upon, so both parties need to come to an agreement on action to be taken.

If it were me, personally, I'd probably say that you should just cancel while you both aren't out too much. Tracking across borders is ridiculously expensive, and generally not worth it. And you have no guarantee that the cards will get there the second time you try to send, especially if neither got to their destination the first time.

Ok so I have asked him what he wants to do and has logged in since I posted it, but he has not responded to me on the trade thread. Can I just cancel?

No, you need to get approval from the other party before doing anything like that. If they don't respond then feel free to open a Bad Trade Report asking to cancel and the admins will attempt to get in contact with the other party.

Great, thanks!