TRDVMA

USDCAD is correcting

Short
FX:USDCAD   U.S. Dollar / Canadian Dollar
2
Yesterday there was a mistake on my part. I falsely thought that the BoC announcement was later during the day rather than 10am and due to this mistake I have lost whatever I had made the day before. I never trade during Rate announcements, as I see it as a gamble. Yes, trading can be considered a gamble to a certain extend, but for me it is a calculated gamble. During Rate announcements however it becomes a 50/50 gamble which I don't like. So the moral of the day (for me at least) was, to be more careful and organized in terms of Rate calender. Thankfully, I covered all my positions just before the beginning of this correctional move and since midday yesterday I am fully Canadian dollar (100%). So I could smell what's coming on, as USD was not moving with falling Oil movements and something was not right.. As a trader one shall always check the tension of the markets, even after buying into a position. With automated trading systems I would also highly recommend reasonable trailing stops. Don't forget the first goal is Not to make money but to preserve it as a trader. Good trades

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