Friday, December 4, 2009

USDCAD—Movin’ on up for now

Ooh-la-la, how did you like that zippity-doo-da dip down to 1.0435 this morning? Sure, sure, job news improved so let’s pound the dollar. Yes! Makes sense, if you have none, and those who shorted on the news now have fewer cents. In any case, yesterday I wrote that I was leaving the rest of the position at breakeven so my trade from 1.0413 is still on.

Had I been around I would have added to my long position but I wasn’t. Oh well, some get away.

© Dianne Fecteau, 2009. No part of this material may be reproduced in any form, or referred to in any other publication, without the express written permission of the author.

My purpose in writing this blog is to show you how one trader, me, makes trading decisions and survives while trading Forex. One of the biggest problems I had when I first started trading was trying to apply the “rules” to actual trades. Another was the psychology—limiting losses and letting profits run. If you study my blog you’ll see how I deal with both those issues. So my writings are not trade recommendations but rather educational in purpose. You have to decide on your own approach to trading. Remember that trading is risky.

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