Do We Have a Bearish Continuation for GBPCAD?

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  • #9056
    Cristian Ravalli
    Moderator

    There is still time to place this one. Do you like it enough?

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    #9059
    John Jost
    Participant

    I would prefer it to retrace to the 50 fib, at least.
    I’m on the sideline for this one.

    • This reply was modified 4 years, 9 months ago by John Jost.
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    #9064
    Cristian Ravalli
    Moderator

    Hey John,

    Thanks for the post. Do you ever consider half stakes or to trade the ones you’re unsure about on a demo account? To make stats about whether you would have made money on them?

    #9066
    John Jost
    Participant

    Hi Cris,

    I do not. I only risk around 0.20-0.35% per trade, so I don’t mind losing a trade.
    R:R usually profits around 4:1 to 10:1.

    Lose small, lose small, lose small, win big = profitable.

    I considered getting into this trade, but I’m already short USDCAD and really didn’t
    want to get into another CAD trade for the moment.

    It’s looking nice so far, though. Are you in it?

    • This reply was modified 4 years, 9 months ago by John Jost.
    #9070
    Cristian Ravalli
    Moderator

    Hey John,

    It’s important to risk what you are comfortable with. At least that way you keep taking all the valid trades even when you might have a bit of a losing streak. Agree on RR too. I try to lose small and be out of the trade at the earliest sign that it might not work out. Better to live to trade another day.

    Yep, I am in it. I like the idea of trading the GBP at the moment because there are some good moves in it.

    Where do you live?

    Have a good weekend.
    Cris

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