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USD/CAD

  • #12,061
  • Sep 8, 2017 9:19am Sep 8, 2017 9:19am
Quoting forexlover20
Any reason for usd cad going up!!!!! very good news for cad
It's just a retrace to fuel for the next target 1.187X which might happen early next week if not this afternoon with a tweet from DT.
  • #12,062
  • Sep 8, 2017 9:49am Sep 8, 2017 9:49am
Quoting Fadhl
{quote} It's just a retrace to fuel for the next target 1.187X which might happen early next week if not this afternoon with a tweet from DT.
Don't be so sure...buyers were lurking

I'll be looking to add once we have another dip
COT: The precious data ignored
  • #12,063
  • Sep 8, 2017 9:50am Sep 8, 2017 9:50am
Quoting Not-KPMG
{quote} ??? I see this sh!t every week!! it's normal stop hunt + Friday. Give it time..... 1.20 coming. Sell 2135-55 area.
Yeah man you are right... the big movement for the week had happened already so generally in these cases the guys wait until Friday, and if we have more good news the use it for profit taking for the week...

I have seen this a couple of times but today I "forgot" this rule and they got me some pips as well.
  • #12,064
  • Sep 8, 2017 10:29am Sep 8, 2017 10:29am
House clears debt limit extension with Govt funding.. this is the reason for the counter intuitive move
  • #12,065
  • Sep 8, 2017 10:35am Sep 8, 2017 10:35am
closed my USDCAD positions.it was demo trading.............learned alot........gonna take notes; review trades made; get ready to fund my live account; and concentrate on what worked for me this week. TTL YALL!!!!!!!!!!!!!!
Focus
  • #12,066
  • Sep 8, 2017 10:43am Sep 8, 2017 10:43am
Guys, don't forget Hurricane Irma coming to lay waste to Florida's economy. Unemployment numbers will be horrible next week or two - may be a while before they recover.

The US dollar has plenty of reasons to keep falling.
  • #12,067
  • Sep 8, 2017 10:52am Sep 8, 2017 10:52am
Quoting mrstblefx
closed my USDCAD positions.it was demo trading.............learned alot........gonna take notes; review trades made; get ready to fund my live account; and concentrate on what worked for me this week. TTL YALL!!!!!!!!!!!!!!
As you will soon know, trading live is very different than demo in regards to emotion. However, you can remove the emotion but it takes practice, remember to trade with a plan backed up by research. First thing I have seen many noobs do, including myself back in the day was reverse my position on impulse and take the loss for fear of missing the boat. It was an expensive lesson to learn, that was not trading, it was just hopeful wishing (I would catch myself saying I hope, I feel, I wish this pair does (blank)). Now it is about making a plan backed my own research to identify and trade when there is a set up worth entering, emotion is removed and due to not using way to much margin, I don't get overly concerned with a trade hitting my SL. My problem is I am usually early with my analysis, but I am learning to use that to my advantage now. I wish you much success, and hope you enjoy this type of trading as much as many of us who post on here do. Have a great weekend, and welcome to live trading.
"What the wise do in the beginning, fools do in the end."-Warren Buffet
  • #12,068
  • Sep 8, 2017 11:16am Sep 8, 2017 11:16am
Quoting mrstblefx
closed my USDCAD positions.it was demo trading.............learned alot........gonna take notes; review trades made; get ready to fund my live account; and concentrate on what worked for me this week. TTL YALL!!!!!!!!!!!!!!
If you don't mind, let me counsel that you open a micro live trading account first and take 0.01 lot for each trade. It may be a good technique to open only one position on a trade and close it before taking another position.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #12,069
  • Sep 8, 2017 11:30am Sep 8, 2017 11:30am
Quoting raklian
Guys, don't forget Hurricane Irma coming to lay waste to Florida's economy. Unemployment numbers will be horrible next week or two - may be a while before they recover. The US dollar has plenty of reasons to keep falling.
Longer term natural disasters actually boost economic activity
Pride always comes before destruction.... -Proverbs 16:18
  • #12,070
  • Sep 8, 2017 12:30pm Sep 8, 2017 12:30pm
Quoting Fadhl
{quote} It's just a retrace to fuel for the next target 1.187X which might happen early next week if not this afternoon with a tweet from DT.
1.187 thus afternoon was that a joke ?
  • #12,071
  • Sep 8, 2017 12:33pm Sep 8, 2017 12:33pm
Quoting Don96
{quote} 1.187 thus afternoon was that a joke ?
Reasonable assumption. DT tweets have impacted the FX market before.
  • #12,072
  • Sep 8, 2017 12:37pm Sep 8, 2017 12:37pm
Quoting Skeptic
{quote} Reasonable assumption. DT tweets have impacted the FX market before.
Was not a reasonable assumpion
  • #12,073
  • Sep 8, 2017 12:38pm Sep 8, 2017 12:38pm
Quoting mrstblefx
closed my USDCAD positions.it was demo trading.............learned alot........gonna take notes; review trades made; get ready to fund my live account; and concentrate on what worked for me this week. TTL YALL!!!!!!!!!!!!!!
what worked this week will likely not work next

and you might lose all of your money next week in your live account since demo trading is much different than trading with real money

90% of people lose 90% of their money within 90 days of trading
Don't Worry Be Happy
  • #12,074
  • Sep 8, 2017 12:44pm Sep 8, 2017 12:44pm
Quoting Don96
{quote} 1.187 thus afternoon was that a joke ?
It was not; all US$ pairs dumped +/-100 tics with no news last night and moved up +/-100 this morning (NY session)! was it a joke?
  • #12,075
  • Sep 8, 2017 2:50pm Sep 8, 2017 2:50pm
Quoting Expo33
{quote} Longer term natural disasters actually boost economic activity
Not if the unemployment numbers resulting from both hurricane impacts start a downward vicious cycle of self-fulfilling prophecy.

This one-two punch of disasters might actually be the trigger leading to the next American recession.
  • #12,076
  • Sep 8, 2017 6:29pm Sep 8, 2017 6:29pm
Quoting MrPresident
{quote} what worked this week will likely not work next and you might lose all of your money next week in your live account since demo trading is much different than trading with real money 90% of people lose 90% of their money within 90 days of trading
With all due respect Mr. President; I am aware of the danger and I have no fear of this beast called FOREX. Feel free to help me out with some trade ideas tho.....would you want to see another brother in arms fail? I think not........SO LETS BE THE TALENTED TENTH!
Focus
  • #12,077
  • Sep 8, 2017 6:31pm Sep 8, 2017 6:31pm
Quoting KeenPips
{quote} If you don't mind, let me counsel that you open a micro live trading account first and take 0.01 lot for each trade. It may be a good technique to open only one position on a trade and close it before taking another position. Trade safe and prosper. KP
Thank you for the sound advice!
Focus
  • #12,078
  • Sep 8, 2017 6:32pm Sep 8, 2017 6:32pm
Quoting OhComeOn
{quote} As you will soon know, trading live is very different than demo in regards to emotion. However, you can remove the emotion but it takes practice, remember to trade with a plan backed up by research. First thing I have seen many noobs do, including myself back in the day was reverse my position on impulse and take the loss for fear of missing the boat. It was an expensive lesson to learn, that was not trading, it was just hopeful wishing (I would catch myself saying I hope, I feel, I wish this pair does (blank)). Now it is about making a...

THANKS FOR THE ENCOURAGEMENT!
Will do my very best to not get emotionally involved!
Focus
  • #12,079
  • Sep 8, 2017 7:00pm Sep 8, 2017 7:00pm
Quoting raklian
{quote} Not if the unemployment numbers resulting from both hurricane impacts start a downward vicious cycle of self-fulfilling prophecy. This one-two punch of disasters might actually be the trigger leading to the next American recession.
With all due respect, you're statement, economically and historically, makes no sense at all.
Pride always comes before destruction.... -Proverbs 16:18
  • #12,080
  • Sep 8, 2017 7:26pm Sep 8, 2017 7:26pm
Quoting Expo33
{quote} With all due respect, you're statement, economically and historically, makes no sense at all.
There's no precedent of having two hurricanes of Harvey and Irma's intensity hitting two economically critical centers of this country within weeks of each other, so you can't use historical references of past hurricane landfalls to predict there won't be an significant impact on the overall economy. I stand by the statement that this might be the "trigger" starting a chain of events leading to a recession due to the fact, among many, that tens of thousands (if not hundreds of thousands) of new people may be displaced and on unemployment in the aftermath. Never said a recession will happen immediately afterwards. I may be wrong about this but to say that'll never happen or saying "it makes no sense" is even worse than wrong.

20/20 hindsight is easy. Black swan events are not readily apparent until they happen upon us suddenly. Trying to look at past events to make predictions of what will not happen is a foolhardy thing to do. You're a trader, so you should know better than most.
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