USDCAD LOSS

USDCAD LOSS
2nd February 2017 contacttf
The US Dollar v/s the Canadian Dollar is a popular currency pair due to the large amount of cross-border trading activity that takes place between The United States and Canada.

So many mistakes made in this play.

  1. I missed an opportunity on the GBPUSD short, so I quickly entered USDCAD, without due diligence and proper research.
  2. The support was not clearly defined and I forced the entry.
  3. I got in higher than I normally do, meaning, bigger loss than usual.
  4. I saw market turning against me. I did not react and close accordingly.

Hope I can lock in these mistakes.

The Canadian Dollar is often called 'The Loonie' because of the picture depicting a loon on the Canadian $1 coin. The Canadian Dollar is often considered a 'Commodity Currency' due to the large deposits of natural resources, especially Oil that is mined and exported from Canada

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