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2:15 p.m. ET we have US Interest Rate Statement. (Expect no change 0.25).
If the US Interest Rate comes out at 0.50 or higher, USD will probably go up by 75pips or more.
If it comes out at 0, USD will go down by 75 pips.
So I'll do some Intraday Update, bet if you are new better do not trade today .
I see that the pair will go down for at least 80 pips from now. I wonder why you decide to make a buy. It is really interesting that the same chart different people see different things.
Anyway I hope that I am wrong ( I am not trading I just looking )
Edit: My mistake, I didnt say that the buy price is 1.62 ....sorry
The summary of your results have some serious red flags in it. The biggest red flag is the most recent USDCAD trade opened on Nov 3. As can be seen on the chart in your summary, the risk has been categorized as "extreme". You always say that people should not risk more than 3% of their account but on that single trade your account was down 12.66% which severely violates your own rule. Yes the trade eventually came out positive by you continuously dollar cost averaging but if some event had caused the US dollar to tank or caused oil prices to rise, you would have been in serious trouble with that trade. It`s always better to just cut your losses when you`ve made a wrong decision and move on to the next trade. There were a couple other trades in you summary where you were in the negative by a large amount and let it ride. So far those trades have worked out for you but it only takes one big mistake to destroy an account.
The summary of your results have some serious red flags in it. The biggest red flag is the most recent USDCAD trade opened on Nov 3. As can be seen on the chart in your summary, the risk has been categorized as "extreme". You always say that people should not risk more than 3% of their account but on that single trade your account was down 12.66% which severely violates your own rule. Yes the trade eventually came out positive by you continuously dollar cost averaging but if some event had caused the US dollar to tank or caused oil prices to rise, you would have been in serious trouble with that trade. It`s always better to just cut your losses when you`ve made a wrong decision and move on to the next trade. There were a couple other trades in you summary where you were in the negative by a large amount and let it ride. So far those trades have worked out for you but it only takes one big mistake to destroy an account.
That trade DD -$915 (-16.18% of equity). See attach file.
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