Sell USDCAD

[UM_manager]

USDCAD is likely to decline this week. I'll sell at market on Monday and close my position on Friday.

 

[a_gnome]

USDCAD is likely to decline this week. I'll sell at market on Monday and close my position on Friday.

How do you manage the risk on such as trade? Do you use a stop or some kind of volatility-based position sizing?

 

[UM_manager]

I use the 2:1 leverage. It's sufficient to keep average weekly risk well below the 5% level, and enough to make 70-90 percent a year with this strategy.

The pair was sold at 1.1358

 

[pssonice]

guess-stick : NO stop + No target = NO ENTRY; everything u wrote today is worthless

take a look at what other members are offering under quiet difficult circumstances

 

[rossored]

pssonice, do me a favour please and tone down your replies; I'm getting a bit fed up of seeing reported posts with you as the subject. You've already have one warning, here's another. More reported posts will result in a 24 hour ban.

 

[UM_manager]

Statistics is a strong thing, pssonice, try to think wider

 

[a_gnome]

I use the 2:1 leverage. It's sufficient to keep average weekly risk well below the 5% level, and enough to make 70-90 percent a year with this strategy.

The pair was sold at 1.1358

Thanks for the reply. Might I ask the underlying reason for the trade and whether this approach is purely mechancial? From your posted chart it seems to be some sort of "heat" map showing probably forward movement but I'd be interested to learn more details should you care to divulge them.

 

[The Pearl Fisher]

USDCAD is likely to decline this week. I'll sell at market on Monday and close my position on Friday.

This trade is shaping up to be a really nice trade UM.

Great work.


TPF

 

[UM_manager]

Thank you, The Pearl Fisher.

a_gnome, I use both mechanical and non-mechanical techniques in my trading. Nevertheless, this trade was purely mechanical. You can find the system's past results in the attachment. (USDCAD-Daily, $1 gained = 1pip)

 

[UM_manager]

The position was closed at 1.1276.

 

[marste100]

The position was closed at 1.1276.

I think it will be a good trade for the next few weeks and probably month to sell the Usd/cad, and other xxx/cad pairs as the Gbp, and Eur/cad.

canadian economy shows good signs, and the us is slowing down, usd interest rate is likely to cut soon.

What is your wiew about the mid, and longer future of the pair?

 

[Chocolate]

You're probably right, but I am thinking of doing the exact opposite and buying usd/cad next week, probably with quite a tight stop. I held off this week because of Nigerian elections at the weekend which could affect oil prices.

 

[UM_manager]

I suppose that the 1.1175 level will be reached next week, but I'm not completely sure whether the whole week will be "black" or not. No positions next week.

 

[gullible]

Apologise in adnace if this is out of place or dumb question but, has anybody heard of beachhead chart formation ? If they please can you enlighten me, as I do not know what pattern would be beachhead formation.

many thanks

 

[marste100]

sold usd/cad at 1.1225.

Target 1: 1.1100
target 2.: 1.1000 ( 2006 low price )