What do you think, Usd/Cad up?

CAD strong tone will continue as long as oil prices are holding above 60-65. Actually, commodity and especially oil prices are the most significant fundamental factor behind loonie strength.

This is what I have been saying since this thread started...

For pablo88, don't intensify your loss and average down on a losing position...Yes, there is a rule which says, what goes up must come down, and what comes down must go up, but you never know when it is going to reverse...The downtrend in the USD/CAD can stay like that for another 2 years, going down from 1.1070 to 0.8000....This is not of course the worst case scenario, but this is a number off my head, could be higher or could be lower...This is a loss of 3070 pips against your position, which is getting bigger everyday because you are averaging down....

After 1000 pips only of decline, you might not be able to cope and continue your strategy, and you might find yourself out of your reserve margin you are talking about, and left with a big fat position which is deep in the red....Why bet it all, win it all or lose it all??? I am just advicing not to fight the trend and I am sure that you are wise enough to make the correct decision which suits you, your capital & your trading style...

See Jim, he is anticipating a pullback, what did he do?? He bought some puts, which are option puts on the future contract....Jim can't lose more than the premium he paid for the option, but can get large profits if the anticipated correction he is expecting occurred....In other words, jims' position has a max risk definition, while yours' DON'T, and more to that, you are adding to it....!!!!


Thanks,

Nader

Here it goes below the 1100 my friend....What's your opinion???


Thanks,

Nader

Hi everybody

I come back from hollydays and can see that my situation still worst.

Ok i continue reinforcement

buy usd/cad at 1.1123 leverage 9

(global position usd/cad : Average buy 1.1294 leverage 26 ) (start to be hot)

usd cad falling like a rock

Major Reversal point for USD/CAD is 1.0488
If you can handle the loss till that price ...
but averaging down is for the amateurs that will lose their cash.
I will buy when it reaches these levels.If it doesnt I wont get in.
I mostly trade EUR/USD ,USD/JPY and GBP/USD but if USD/CAD reaches the 1.05 levels it will be a good bargain with an intermmediate target at ~1.2000
and a longer target at ~1.3500.

My friend, you refuse to take the advices from more experienced traders here and keep on doing what you shouldnt be doing. Up to you, it's your loss (pun intended).

Ok guys i stop this trade at 1.114


-35.4% ouille ouille

So big move.

i have a long USD/CAD position at @1.1111 ,very nice number , but not a good entry . hic...

I am long from 1.1090 since monday's market opening. Price action alone showed a firm bottom had been formed after spending 4 days hovering above option barriers and a reversal was likely to happen. After a very close retest of the 1.10 area Loonie is now up around 1.12 but I still think there is plenty of room to the upside. My stop has been moved to 1.1140.