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USD/CAD

  • #11,601
  • Jul 16, 2017 2:06pm Jul 16, 2017 2:06pm
Quoting interludebay
{quote} Thank you this is very helpful. Do you by any chance use any "robot" to help you trade? I do find it in some discussions that some of the traders do it with the help of "robot" signals. I trade in small lots like 0.10 and 0.20 but since my capital is not so much I think that's what makes me struggle. Hopefully something good will happen tomorrow.
I think lot size management is important and using Sl is more far important then anything. And when I say use sl so use it properly see Google or YouTube so you can understand it properly where to put it otherwise it will hit so many times. And the lot size I use 0.5 for 500$ and 0.10 for 1000$ account. Btw I had the same problem but trust me you don't want to against the trend. Today or tomorrow you will loose it so better take loss and think forward like I am doing now. Last day I lost over 80% my account by no using Sl (unfortunately).
  • #11,602
  • Jul 16, 2017 6:13pm Jul 16, 2017 6:13pm
Quoting interludebay
{quote} Thank you this is very helpful. Do you by any chance use any "robot" to help you trade? I do find it in some discussions that some of the traders do it with the help of "robot" signals. I trade in small lots like 0.10 and 0.20 but since my capital is not so much I think that's what makes me struggle. Hopefully something good will happen tomorrow.
I do not use robots. However what I do use is 1 hour, 4 hour, 1 day, and 1 week time frames. 1 hour is the fastest time frame I will use when trading. Anything lower than that is just noise. I prefer the 4H and 1D the most, because I am able to focus better on trends and larger PIP wins. You will have to see what works best for you, make a plan based on strategy, then let the plan work. I am really happy when I only have a trade on Monday to enter and a trade later in the week to exit, at that point I wait until the next set up. Some people like to trade for 3 PIP's profit, I like to trade for a 75-200ish. But it has to be based on what you are comfortable with. There is nothing wrong with small lots, this is a game based on PIP's. If you can get good at averaging 10-30 PIP's per day, and do it consistently because you have a plan, you can make a lot of money over 12 months. Do not blow a winning week by jumping into the market on impulse, you need to always plan and manage your risk if the trade goes the opposite direction on a trend reversal. Your reply ended with "Hopefully something good will happen tomorrow", that is the wrong mentality and means you are guessing, use some good indicators, enter on the dips if you need to. If your plan starts with the word "Hopefully", you need to learn how to do technical analysis.
"What the wise do in the beginning, fools do in the end."-Warren Buffet
  • #11,603
  • Jul 16, 2017 8:21pm Jul 16, 2017 8:21pm
Quoting Situhin
{quote} I think lot size management is important and using Sl is more far important then anything. And when I say use sl so use it properly see Google or YouTube so you can understand it properly where to put it otherwise it will hit so many times. And the lot size I use 0.5 for 500$ and 0.10 for 1000$ account. Btw I had the same problem but trust me you don't want to against the trend. Today or tomorrow you will loose it so better take loss and think forward like I am doing now. Last day I lost over 80% my account by no using Sl (unfortunately)....
That's a typo right there, or your math is wrong somewhere else?

Cheers
It takes a lot for me to IGNORE you, but you can try.
  • #11,604
  • Jul 17, 2017 8:05am Jul 17, 2017 8:05am
Quoting Erebus
{quote} That's a typo right there, or your math is wrong somewhere else? Cheers
Maybe. I m new in forex and want to learn.
  • #11,605
  • Jul 17, 2017 8:28am Jul 17, 2017 8:28am
Quoting Situhin
{quote} Maybe. I m new in forex and want to learn.
Maybe?

0.05 + 0.05 = 0.10

0.50 + 0.50 = 1.00

so big difference
It takes a lot for me to IGNORE you, but you can try.
  • #11,606
  • Jul 17, 2017 8:36am Jul 17, 2017 8:36am
Quoting Erebus
{quote} Maybe? 0.05 + 0.05 = 0.10 0.50 + 0.50 = 1.00 so big difference
Actually when I trade I trade only one position. So 0.05 only and it's my maximum lot size. No way to 0.50.
  • #11,607
  • Jul 17, 2017 10:38am Jul 17, 2017 10:38am
40 pip spike , anybody know why?
  • #11,608
  • Jul 17, 2017 11:08am Jul 17, 2017 11:08am
Quoting KiinGPurP
40 pip spike , anybody know why?
oil prices are slowly falling. it will burden the canadian dollar. but still too soon to say usdcad will change trend. i'm still neutral in this pair.
  • #11,609
  • Jul 17, 2017 12:12pm Jul 17, 2017 12:12pm
Quoting KiinGPurP
40 pip spike , anybody know why?
Canadian house prices are down nearly 10% since April,
  • #11,610
  • Jul 17, 2017 12:14pm Jul 17, 2017 12:14pm
Correction is started. It should hit 1.3 before goes to 1.25 and lower.
  • #11,611
  • Jul 17, 2017 12:19pm Jul 17, 2017 12:19pm
couldnt disagree more. this is not the start of correction.
  • #11,612
  • Jul 17, 2017 12:32pm Jul 17, 2017 12:32pm
Reason?

I trade fundamentally, CAD is over valued. It had the chance to hit 1.25 last week but it didn't happen. Oil price will go down, housing crisis in Canada (will start soon), US is in good shape and on the rate hike. There are other minor reasons. Opened a long position at 1.2640 (big size).
  • #11,613
  • Jul 17, 2017 1:13pm Jul 17, 2017 1:13pm
Also, I should mention that I really expected correction somewhere around 1.25 and this spike can be only because of the triggered take profits of big players' positions. I put the stop-loss on the break even point.
  • #11,614
  • Jul 17, 2017 10:41pm Jul 17, 2017 10:41pm
Sold again at QM Level
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADM15.png Size: 27 KB
  • #11,615
  • Jul 17, 2017 11:22pm Jul 17, 2017 11:22pm
try to test the 1.2590 area
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad-w1-valutrades-limited.png Size: 36 KB
  • #11,616
  • Jul 18, 2017 2:45am Jul 18, 2017 2:45am
Could visit prev year low if it stay below 1.2695
It is not that far
Don't mind me.. i'm crazy
  • #11,617
  • Jul 18, 2017 4:47am Jul 18, 2017 4:47am
USD/CAD is at 1.2600 and considering how bearish it is I think it could drop to the last low at 1.2460.
  • #11,618
  • Jul 18, 2017 6:14am Jul 18, 2017 6:14am
I don't see it going past 1.25-1.25200, and than up move to at least 1.29-1.3
  • #11,619
  • Jul 18, 2017 7:56am Jul 18, 2017 7:56am
opened a long.
  • #11,620
  • Jul 18, 2017 8:01am Jul 18, 2017 8:01am
Quoting Venomousssss
opened a long.
TP?
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