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Another big winning day for users of the DayTradeToWin.com Atlas Line. Take a look at how the Atlas Line called the short orders - you could be making money here!
Though the USDCAD has recently accelerated on the upside, some profit-taking may take place on the pair. Notably, the pair has come back under its previous resistance at 1.32785. Also, the RSI on the 4H chart is oversold. This confirms the likelihood of some profit-taking in the near future. One can open a short position right under the resistance, and place a stop a few pips above it to protect the position in case of an upside breakout and possible return to recent highs. TP targets would be the 50-h SMA, or 50% of the recent high green candlestick if you want to play it safer.
#usdcad #forex #fxtrading #investing #traders #fxtraders #trading #fx
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So you’d like to earn your living DayTrading?
You have all heard the stories of losing DayTraders running down the streets shooting people?
During the heady .com days prior to 2001, (when Bush became president,) there were stocks, 3 or 4 times a week that went up from 30 to 200% a day.
It was possible, if you knew what you were doing, to check before the market opened to see which stocks were running in real time and why.
And, if you then had a fast electronic brokerage system you could dive into the market, buy a bunch and sell them the same day.
About 1% of people doing this consistently made money.
I saw one private individual make a million in one day shorting Corel. And then there was somebody who lost a bunch hanging on too long to the WWWF IPO.
As a matter of fact the bottom line is that if you take inflation into account you’d have been better off putting your money in an old sock since 2001.
So what to do?
Give up on the Stock Market let alone give up on DayTrading?
Don’t give up on the Stock Market, if you use the right system which is a simple set of formulas you can still make 30% or more on your money annually.
Using this simple system $11,000 left in the market for 17 years would be worth more than one million dollars today.
But it is not DayTrading and you still would need a strong stomach to sit out these 17 years, because some of those years would give you negative returns.
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