Got some ideas that I want to try out. Don’why is forex trading so hard anyone take these trades .
This message is hidden because piphoe is on your ignore list. Those who are illiterate regarding Forex is really so tough to them but those who are well known of Forex, it is really easiest profession to them. The trader who has efficiency about Forex is the luckiest person. Because FX market is really fulfill with all facilities.
A trader can trade here through abiding in home. Forex can give a trader much profit if he works hard with this market. I have been trading with Forex for more than two years, I am a novice yet. Can you please start some positive threads about forex ? Forex Trading is easy or hard ?
WTF fridays are another trading day right? There was one opportunity today on cad but besides that nothing on the board. Did you trade this particular data release? I was initially perplexed by the strength of the initial 5 minutes price action after the data release as headline numbers did not seem significant enough as a miss to generate such weakness in CAD.
This commentary came in through Forexlive on the CAD data “The CPI came in mostly as expected, but the YoY did dip to 2. Then there was the retail sales. That headline came in at 0. Looking at the ex auto and parts, the number was -0. So the nuances of the data was enough to push the CAD lower as traders started to take out the prospects for a tightening at the next meeting. I did consider a trade on price action and market structure but given what was happening and RR it was a difficult proposition as explained in the attached chart on a 1 min TF. I did take this on the release.
My thinking at the time was the lack of cpi growth and core sales. I was also watching oil running lower into the release. The lack of cpi growth put any hike on ice with the core sales being the nail in the coffin. I was also in the mindset that this was the only opportunity on the day so there was likely going have have some attention if it was soft. I was expecting a softer reaction so only took 25 pips from the trade. I trade like this all the time.
After huge candle spike, I try get in for couple more candles, looking for exhaustion. I short when I think I see that for the retrace. Then cover, try get back in for another run higher. Just a suggestion because its definitely going to chew through your account. Why don’t you trade with the move off the bat?