Trading a new pair USDCAD

8th July 2016 contacttf

Day Trading, as the name implies, is generally limited to trading activity during most of the day trading. It includes the purchase and sale of shares in a short period of time. Day traders buy and sell stocks since the market opened in the morning and sell them off, before it closes.

I am trying to stay clear of GBP, and there were no signals for USDJPY so I took the opportunity to get in USDCAD.

Each pair seems to have its own personality. USDCAD seems to have a fiery character.

I got in slightly later than I wanted. The long bearish candel after the sen turn would have been ideal.

Day Trading, as the name implies, is generally limited to trading activity during most of the day trading. It includes the purchase and sale of shares in a short period of time. Day traders buy and sell stocks since the market opened in the morning and sell them off, before it closes.

I got out when my RSI turned up [Blue line through RSI].

Day trading is often considered risky. But it may be advantageous for the serious investors who have learned techniques of the trading day, through study and experience. They know when to enter and exit a position. Successful day traders tend to be smart, critical and objective in their approach.