Trading currency crosses opens a whole new side of the currency markets, as different crosses possess different qualities that can suit any style of trading. Some crosses move fast and are extremely volatile with daily ranges that may exceed over 100 pips. While other crosses move relatively slow and exhibit low volatility, which is more suited for novice traders.
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Our short term trade was stopped out at a loss as our position was whipsawed after today's slew of economic reports. Again, another frustrating trade as we watched the pair go back into our direction and nearly reaching full profitability. … More…
Tonight we will be "Cross-Eyeing" CAD/JPY as we recently saw a weak Retail sales number out of Japan a few hours earlier. Japan's economic data has been weak as of late, and today's number won't help much. We've also seen oil prices rise recently as… More…
This morning, we watched Cable get a beat down as traders sold off their long GBP positions when BoE Governer King suggested that the rate hikes may end and that news came out that the vote for a January rate hike was only 5-4 in favor. I think this may be an over reaction by traders and… More…
Half of our position triggered long this morning at 156.70. Pt1 was hit for +20 pips. Because we only got in with half position i decided to treat it as a full position and closed our open trade at pt1. For those who are still in the position, you are currently up +40 pips. I would move… More…
Our trade was stopped out this morning by whipsaw action for -40 pips. In hindsight, I should have adjusted our stop to weather the event risk that was coming up. We would still be in play and in the money. It's a revisited lesson that I'm sure we've all been through before. I still like a short play on this pair, especially after...… More…
It looks like loonie is getting a push as cold weather is forecasted in the near term in which we may see a demand in energy and oil - good for the oil correclated CAD. Also, the Yen rally seems to be stalled tonight as Japanese traders take off for the holiday. So, we got +70 pips from the first half and +00 pips from the second half... Not bad!!… More…
