You're a danger to your account if you don't understand your exposures. You are trading CAD yet your exposure is to EUR and CHF. This is pointless... you're too thick to understand it and I an done trying to drill it into your head. I know where this journal is headed.
I am trading two currency pairs that will probably end up making me money, period! Stop your nonsense and return to your Heinekens and Doritos.
Dear @Tradex Take a look at GBP.AUD, and GBP.JPY. You may find something there Like a nice bottle of Latour... All the best... Personally, I have not had good experiences with CAD...
Hello ChipShotTrader, Yes I looked at GBP/AUD and GBP/JPY this morning (I scan 28 FX pairs daily). Price action on GBP/AUD is pretty messy at the moment, but nice trend on the GBP/JPY, definitely a candidate for a possible short position tomorrow, if I get a valid signal. No Latour for moi tonight, so I will settle for a small glass of Cabernet Sauvignon, a Silver Oak Cellars from the Napa Valley. Cheers and all the best too.
Ever been to Mexico or Canada, from California (where you live)? Then you have already traded in the Forex market (you need to buy pesos or Canadian dollars with your US dollars). It is not that difficult to trade the Forex, I assure you. Learn how to trade it and come join the Club. Or you can continue to trade the equity indexes in the Futures market, that's fine too, there is also plenty of liquidity/volatility in these markets.
Stock indices are good enough for me. Keeps trading simple. You wrote above that you scan 28 FX pairs daily, which seems like a manageable number. It reminded me of when I traded stocks and would scan various watchlists daily. It's extra work and besides that stocks are too slow intraday. I've had the EUR/CAD chart on one of my screens all day and it moves too slow for my taste. It moves like the after-hours indices before the pandemic.
On average the major currency pairs move 1% each day. On a 100 to 1 leverage that represents a 100% daily move. What more do you want? Trading is not about fast or slow, it's all about the money you are making at the end. Or more precisely, your return on investment.
You've been holding EUR/CAD for almost 13 hours, and it hasn't moved much. You said you got a signal, but not on daily bars. Are you monitoring this trade or is it a set-it-and-forget-it? I don't know how much a tick (a pip?) is worth. Leverage ain't everything.
Short EUR/CAD I set automatic trading alerts but I still watch the market from time to time, as other trading opportunities may appear at any time.
Short EUR/CAD trade is not working, out at same price (1.5120), no gain, no loss. A short re-entry trade is still possible later, if a new signal is triggered. Short CAD/CHF position is still open.