Category Archives: Forex

Forex Trading: Income or Capital Gain Tax in Canada?

By Paul | Published: March 8, 2010
I’ve always known that foreign exchange trading is treated as capital gain tax in Canada.  But just to be sure before filing my taxes soon, I’ve decided to double check the facts from Canada Revenue Agency.  As you know, the difference between income tax and capital gain tax is substantial.  Income tax is taxed at [...]
Posted in Forex | Tagged Canadian, tax | Leave a comment

Lucky exit for CAD/JPY long yesterday, downtrend resumes now?

By Paul | Published: February 22, 2010
I booked my profit on my CAD/JPY long last night mere pips away from the top.  It was a lucky move, that’s all.  Now it looks as though CAD/JPY will do one of the following:   Click here to continue reading... (189 words, 1 image)
Also posted in Aussie, Kiwi, Loonie | Tagged CAD, JPY, market analysis | Leave a comment

Paper trade: Closed all CADJPY long @ 88.40 for +152 pips

By Paul | Published: February 21, 2010
CAD/JPY reached my target of 88.00 last Friday.  It broke through 88.00 nicely and tested 88.50 on Tokyo open just now.  I decided to book my profit in the demo account on this CAD/JPY long position entered at 86.88 and 87.87.  See Figure 1 for the 3-hour chart with the entries and exits marked.   Click [...]
Also posted in Aussie, Kiwi, Loonie | Tagged CAD, exit, JPY, long, paper trade | Leave a comment

Paper trade: Long CADJPY @ 86.88, Stop 86.10, Target 88.0

By Paul | Published: February 17, 2010
I entered CADJPY long at market for 86.88 just now.  This is a continuation of my previous USDCAD short position.  However, USDJPY is on a run upward so I’m switching to go long on the loonie with yen instead. Figure 1 shows the daily chart of CADJPY.  Notice the imminent MACD bullish crossover and the already [...]
Also posted in Aussie, Kiwi, Loonie | Tagged CAD, entry, FTC, JPY, long, paper trade | Leave a comment

Paper trade: Stopped USDCAD short @ 1.0540 for +131 pips

By Paul | Published: February 15, 2010
Finally a profitable trade in my USDCAD short after being stopped out a few times. My decision last week to hold this for longer after USDCAD touched my target paid off.  I moved my stop closer last Thursday evening and the order got filled on Friday. However, as I type this on the [...]
Also posted in Aussie, Kiwi, Loonie | Tagged bad trade, CAD, exit, paper trade, short, USD | Leave a comment

In a forex brokers and trading platforms jumble

By Paul | Published: February 12, 2010
Once upon a time, I was a happy forex student.  I paper traded on Oanda for a few months and even opened a live account with them.  Then my work place tightened up our internet firewall at work.  I couldn’t access market data anymore during the day.  Fortunately, Dukascopy at the time said that they’ll [...]
Posted in Forex | Tagged dukascopy, mb trading, metatrader, oanda | Leave a comment

USDCAD short target hit @ 1.0581, trying something new–to hold for longer

By Paul | Published: February 10, 2010
USDCAD comes to a halt at 1.0581 today.  My original target was 1.05761.  A mere 5 pips difference.  This position is now +79 pips on paper.  I moved my stop to breakeven last night.  Normally, I would have covered most, if not all, of the position at this point.  But I’ll hold onto the [...]
Also posted in Aussie, Kiwi, Loonie | Tagged CAD, paper trade, short, USD | Leave a comment

Paper trade: Short USDCAD @ 1.0671, Stop 1.0756, Target 1.05761

By Paul | Published: February 9, 2010
Perhaps third times’ the charm? I tried to short USDCAD twice last week already. Both times I’ve been stopped out for a total of -0.2% of account loss. My intermediate term analysis remains the same as before. So I won’t repeat myself here. Entry signal for this particular short is shown in [...]
Also posted in Aussie, Kiwi, Loonie | Tagged CAD, entry, FTC, paper trade, short, USD | Leave a comment