Foreign Trader Tip: Pay Attention to Currency!
Hello all!
Hope you are all having a great start to your trading week!
In this video, I outline one thing I have overlooked for the longest time as a foreign trader trading the NYSE, that is currencies!
As an active day trader who pays himself on average every 2 weeks, I never really cared or paid attention to currency charts. However, when I looked more into how currency can impact my positions and P&L, I was shocked! Simply being patient and being attentive to current currency rates and trading behaviour, you can actually help improve your overall P&L at the time of your conversion.
In this video, I go over this in depth using the USD to CAD currency rate. However, this, of course, is applicable to any currency, from USD to AUD, EURO, etc.
This is just a helpful tip that you will hopefully find intriguing!
Safe trades all!
Hope you are all having a great start to your trading week!
In this video, I outline one thing I have overlooked for the longest time as a foreign trader trading the NYSE, that is currencies!
As an active day trader who pays himself on average every 2 weeks, I never really cared or paid attention to currency charts. However, when I looked more into how currency can impact my positions and P&L, I was shocked! Simply being patient and being attentive to current currency rates and trading behaviour, you can actually help improve your overall P&L at the time of your conversion.
In this video, I go over this in depth using the USD to CAD currency rate. However, this, of course, is applicable to any currency, from USD to AUD, EURO, etc.
This is just a helpful tip that you will hopefully find intriguing!
Safe trades all!
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