Thanks. Its a fun challenge, testing the 1%/day idea, but more importantly testing a theory about the USDCAD pair with real money that I can afford to lose.
I've been thinking about similar strategy to only gain 1% / Day ::: I toiled with the idea trading binary options on AUDUSD ::: Best of Luck :::
I've opened a demo account with Dukascopy ( $5000 ) ::: I will trade my demo as and when I have time, my target is also 1% / day average ::: I've taken some trades and I'll be posting the results on Google Drive ( spreadsheet ) ::: First Morning's trades & I'm up about 7% ::: Spreadsheet Results : http://bit.ly/2bdawB3
I was able to trade some more , I'm done for the day have other commitments ::: Growth for the day is 8.8% Spreadsheet Results : http://bit.ly/2bdawB3
It a no brainer that Canadian will go up on the U.S. Dollar eventually. Am short the U.S.D. and long Canadian$
My time is limited today, traded the UK opening ::: Growth for the day is 3.34% Total Growth 12.84% ( 2 Trading Days ) Spreadsheet Results : http://bit.ly/2bdawB3 Screenshot of Account Balance :
Yes, indeed, it is definitely a no-bainer. Now, try to profit from this in a way that is meaningful. That's the real challenge with this pair. Predicting eventual direction is rather easy. However, if you rely in this alone, there are probably better ways to invest your money. I'm well into the hole now, but believe it or not, this is part of the plan. I always buy in the direction of what I predict will be the long term trend. I scalp bits and pieces for as long as I can and then hold the trade when it goes against me. Rinse and repeat. The trick is to dig deep enough to make money while avoiding a point where I can no longer afford to trade or I get a margin call. Eventually, all trades do become profitable if I have correctly selected the longer term direction.