USD/CAD - A Lesson Worth a Fortune
Entered the trade at price point: 1.3295 = 23.60% level. The proper move would have been to wait till the 50% - 61.80% to confirm a reversal at this present price zone.
It's funny because I have signals on my phone that show the sentiment of the market on whether to buy or sell. USD/CAD was in the sell at the time I called the trade and is now Neutral.
Note to traders: Trust your own bias before anyone else. If you don't that could end up costing you... or not if the person you follow is an attentive trader. (Perspective)
Still getting the hang of understanding lot size and how to determine the pip to lot ratio
and risk/reward of the trading account if that makes sense. If you have the answer that would really help. Please comment below if you do to help other traders out as well.
In other words, how do you adjust your account size and lot size as your account appreciates/depreciates in monetary value?
These were my actual stats on the demo account I guess I had a 1.98 ratio without even knowing about it. Just missed the .02. The plan is to not make that mistake happen next time.
It's funny because I have signals on my phone that show the sentiment of the market on whether to buy or sell. USD/CAD was in the sell at the time I called the trade and is now Neutral.
Note to traders: Trust your own bias before anyone else. If you don't that could end up costing you... or not if the person you follow is an attentive trader. (Perspective)
Still getting the hang of understanding lot size and how to determine the pip to lot ratio
and risk/reward of the trading account if that makes sense. If you have the answer that would really help. Please comment below if you do to help other traders out as well.
In other words, how do you adjust your account size and lot size as your account appreciates/depreciates in monetary value?
These were my actual stats on the demo account I guess I had a 1.98 ratio without even knowing about it. Just missed the .02. The plan is to not make that mistake happen next time.
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