Can someone review my forex trade that I placed on USD/CAD on Thursday?
Last Updated on Saturday, 20 December 2008 10:36 Written by Gary.L Thursday, 18 December 2008 03:36
rahul asked:
Hello Forex traders,
I am somewhere between a beginner to an intermediate forex trader. I placed a trade on USD/CAD on Thursday. Although I made some profit, It was not how much I expected.
Can you please review my trade. I have posted my analysis behind the trade at -
http://the-forex-trading.blogspot.com
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Overall, not too bad . . . you made a profit.
Considering the timeframe you are trading, I don’t understand why you are referring to a an exit at 1.1006 “which looked like an important resistance”.
It looked like recent resistance was ~1.1055 and sloping upwards.
I would have tried to ‘trade the range’ of it coming down to ~1.1055 and having hat as a ‘buy on stop’ or not had any exit order in place, in the hope there was significant weakening due fundamental events (of which there are many these days).