I would reconsider my postion if it hit .1150 and it looked like there was a clear downtrend. I was getting tired of the intraday volatility. My stop would get hit and I would suffer a huge loss only for the pair to be profitable five minutes later, had I still had my position. My stop was over 150 pips away from my entry and it would still happen! It just goes to show how unique this pair really is. I see what you're saying and I don't reconmend anyone follow my style but it's working for me.
I have experienced similar agony with this pair. I get scratched out 100 pips north of my entry and then half an hour later, it's right back where I entered the trade. Now, I only enter this trade (short) on the spikes higher.
kalzayani , Once again, please post about the CAD. This is NOT the thread for CHF or Cable. We've had to ask you several times about this, I don't know if it's English or just that you forget.
To pick up on a previous points on stops - what are people's views? Is it better to have a wide stop (100-200pips) and smaller leverage, or vice versa? I say this as the CAD can be volatile, but nothing is more frustating than your stop being hit and 2 days later, your original position would be profitable by 100pips. My current position is short 1.136 tp 13, sl 1.146
It depends on the pair USDCAD = no stops when I'm long USDEUR = stops are 20 pips or less I'm new to the Forex game but I truly believe each pair has to be played differently. USDCAD is definitely one of the unique ones. Obviously if I'm not going to have a stop, I use less leverage.
Why no stops when long? Do you use stops if short on CAD? I suppose the 20pip stop on the eur/usd is fine if you use a 5/15min chart, but a longer time frame you'll get stopped all the time? Do you know any examples of "all-in" set-ups in fx trading, I always wondered if there were any or just a myth?