Friday, February 12, 2010

USDCAD—tried another long

My two long positions at 1.0516 and 1.0524 stopped out at breakeven. After chewing on it for a few minutes and watching the price action on shorter-term charts, I went back in long at 1.0522. It dipped to 1.0511 before climbing again so let's see if this position can hold.

© Dianne Fecteau, 2010. 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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