CAD/JPY, what the hell is that? I was short one time, but that is just another one of the thousands I put on and closed. Can't remember how it turned out, nothing too memorable. I think someone told me no one in their right mind would go short, and they were right, I wasn't in my right mind. Oh well, out of sight out of mind. It is now out of sight, and I am still out of my mind, that's why I am still long AUD/CAD, but probably not for long.
that's probably good advice, when the set this whole deal up, everbody agreed to trade in bands, can imagine that if the government did it with stocks? at anyrate, everything is supposed to trade in a band and nothing is supposed to get too out of hand.
Thats what happens, when you never listen to me. You are a gambler and you do not know what you are doing in the marketplace. You can not simply buy and sell the currency pairs, like going shopping in the supermarket. So you will never make profits under the line. The best for you would be stop trading and start backtesting strategies, develope from there, then start play money trading and so on. Slowly go to real money trading. step by step. And only do one trade a time, and do it right, make money on it. Wait for the right time to enter and control it, if its not working perfect, close it. and watch out for the next. Wait and be patient. ------------ I tell you honestly what i think about AUDCAD odds. Price will not retest that hight again, this week. This week it will go more down, at least to 1.0530. I dont know where you went long, but there you have the opportunity to close your trade and take the best possible loss you can get. Maybe it goes under that low of 1.0530. But this is the next major point for the price. Next big point would be 1.0440. But if so, likely not this week. Its Wednesday now, you see..... Good luck
I've been long AUDCAD for many weeks, added many times and taken many profits, as it stands now my average price is 496 but it's been a good run, will be getting entirely flat here pretty soon, probably this week or next.
ok, since you wanna trade it on the longer time. and your average price is 1.0496, i would suggest you close all now. And wait this remaining last days, how much down it goes. And buy in back again, where i told you price could go. Because i think, we are in a long term up move here and it will continue next month. You should check the 2 Monthly, 3Monthly and 4 Monthly chart for that to see, where is the energy and the possible blockades for the price. I dont trade so long term, maximum is one month. So, i would close all now, and maybe buy back next month, on a support area, if it goes more down, or if not at the same price here. That would be called then position money managment. Good luck