USDCAD LOSS

USDCAD LOSS
22nd June 2017 contacttf
Tight Stop. The act or practice of raising a stop price to minimize losses from a long position. For example, suppose one buys a stock at $20 with a stop price of $18 (meaning the stock will be sold automatically if the price hits $18 in order to prevent further losses).

With no other opportunities, I was chasing the trade. This made me make a catalogue of errors.

  1. The 5 min, chart was not setup,
  2. The cloud on 1 min was very thick.
  3. News and data were pending for 15:00, 15:30 and 16:00 BST

It is fortunate I was able to get out using a very tight stop.

#usdcad is the only pair on my watchlist.

Forex, also known as foreign exchange, FX or currency trading, is a decentralized global market where all the world's currencies trade.

 

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