DislikedThe cad IS doing well LMAO.....it's doing gang busters, if anything it'll pull back a bit now.Ignored
How so? & When? & How Far a pullback?
- #3,963
- May 4, 2011 10:07pm May 4, 2011 10:07pm
- | Joined Jan 2009 | Status: Snr. Director | 1,158 Posts
Who you got for Stanley?
Keep yer stick on the ice
Who are you placing your bet on?
Si vis pacem, para bellum.
Ah repeat of last year.. philly in 4 straight
Canucks get past nashville, only to get eaten by the sharks..
I wanted to see a habs vs canucks final!
Short @ 0.9700.. s/l 0.9750
Cad unemployment & GDP tomorrow and Non-farm.. It will be interesting to see how the price reacts. I don't think it is unexpected to see good numbers for Canada, and poor numbers for the US.
Canucks get past nashville, only to get eaten by the sharks..I wanted to see a habs vs canucks final!
Short @ 0.9700.. s/l 0.9750
Cad unemployment & GDP tomorrow and Non-farm.. It will be interesting to see how the price reacts. I don't think it is unexpected to see good numbers for Canada, and poor numbers for the US.
- #3,967
- May 5, 2011 7:29pm May 5, 2011 7:29pm
Yo DUCE & DAWG: Canucks vs SJ winner must get Stanley ( former is my choice based on DAWG's CDN fundies better than US's)
.
DAWG: I am watching the Mar 6 9717 prev support on the Wkly chart.
My Wkly indicators look up! The drop in commodities & risk aversion this week
Keep yer stick on the ice.
.DAWG: I am watching the Mar 6 9717 prev support on the Wkly chart.
My Wkly indicators look up! The drop in commodities & risk aversion this week
Keep yer stick on the ice.
- #3,968
- May 5, 2011 8:25pm May 5, 2011 8:25pm
Hello,
Do not know if I have much to contribute tonight.
This commodities selloff is too broad reaching to be attributable to merely speculative excess.
The crack in the Euro that seemed to be correlated with the weak report out of Germany, would indicate that Europe may be running out of deep pockets to bail out the weaker nations. Trichet got the word from someone higher up the food chain.
A weaker Euro will downdraft the US stock market which has been running on air. The US Fed is now between a rock and a hard place. They cannot talk the USD...
If you look @ mthly comm/US charts the suggestion as per the post = US$ strength.
Today, the gm.bankofny.com comments reflected your usd "phoenix".
- #3,974
- May 8, 2011 6:36pm May 8, 2011 6:36pm
Pls, can I be ur friend mr duce... Bcoz, I need smeone to give me go ahead before I can trade on any currency. I don't really no much abt trading but yet i invested. My money in it and am loosing a lot of money. Hope to read frm you...
Gonna check with my psychic ( Gold Mansacks) cuz I think he/she may be one of the elected NDPers from Que.
Lucasvilla, I believe is the riding N of Noranda.
- #3,977
- May 9, 2011 8:48pm May 9, 2011 8:48pm
- | Joined Jan 2009 | Status: Snr. Director | 1,158 Posts
Hi Lucasvilla. I'm sorry I did not reply earlier to your post.
As far as your request, I know how you must feel. When I first got into forex I had a great lucky streak going on, and I thought I knew a lot about forex. But it turned out to be simply luck. My first month of trading, I was up for $10K, which i took as profit. And the next 6 months I was down $7k. Charts, indicators, the FF forums are all good tools to help you trade, but the biggest piece of advice I can give you is MM...money management.
I know you have to bet big in order to win big, but it is this type of mentality that will lead to your demise. You need to make EXTREMELY SMALL trades and learn from your trade, whether it was a winner or a loser. Small trades allow you to ride out a draw down. I'm not a fan of SL (stop losses) but my trades are so small, in conparison to my account balance, that I can draw down 300-400 pips and not worry at all. But in the UCad...300-400 pip drawdowns is not a smart way to trade. Since this pair does not have a lot of volatility, you can easily see the trend and trade with it. Don't bother looking for tops and bottoms. Follow commodities and the TSX.
My other piece of advice would be close your losing trades quickly, but let your profits ride. Once you're up 20-30 pips (in this pair), put in a trailing stop and forget it. Banking zero to 10 pips is better than negative any day.
I hope you're trading a demo account, 'cause losing money LIVE for a newbie is disheartening. If you want to be good in anything in life, remember....10,000 hours ! Good trading to you.
As far as your request, I know how you must feel. When I first got into forex I had a great lucky streak going on, and I thought I knew a lot about forex. But it turned out to be simply luck. My first month of trading, I was up for $10K, which i took as profit. And the next 6 months I was down $7k. Charts, indicators, the FF forums are all good tools to help you trade, but the biggest piece of advice I can give you is MM...money management.
I know you have to bet big in order to win big, but it is this type of mentality that will lead to your demise. You need to make EXTREMELY SMALL trades and learn from your trade, whether it was a winner or a loser. Small trades allow you to ride out a draw down. I'm not a fan of SL (stop losses) but my trades are so small, in conparison to my account balance, that I can draw down 300-400 pips and not worry at all. But in the UCad...300-400 pip drawdowns is not a smart way to trade. Since this pair does not have a lot of volatility, you can easily see the trend and trade with it. Don't bother looking for tops and bottoms. Follow commodities and the TSX.
My other piece of advice would be close your losing trades quickly, but let your profits ride. Once you're up 20-30 pips (in this pair), put in a trailing stop and forget it. Banking zero to 10 pips is better than negative any day.
I hope you're trading a demo account, 'cause losing money LIVE for a newbie is disheartening. If you want to be good in anything in life, remember....10,000 hours !
Good trading to you.
Si vis pacem, para bellum.
- #3,980
- May 10, 2011 7:06pm May 10, 2011 7:06pm
Still holding short from 0.9700, SL moved to +10, closed 1/2 trade at 0.9600.. TP 0.9420
let see how we do..
Looking for symmetry of moves, 300 to 400 pips
50 on Dly has been strong resistance.
9550 prev supp (Apr 11) & 9542 (62% fib May 1- 5 lo-hi). If violated gets you good pips.
Something nagging me about commodities though! Have they topped or was last week just profit taking?