Hi Grav,
usually you share your view on trades and pairs and readers do it not so often. Although in the last times it also happens. So now I also thought I share you my "live idea", just like ezcurrency and we can talk about it.
I entered NZD/CHF long and not others today although I have seen some good lineups. Reasons, I do not want to enter too many trades when others are still running. I want to concentrate on the process and do not enter many trades. Earlier I did it like ezcurrency, trading a pair across the board but my experience is, it is a lot more difficult to follow all pairs and add to them. So I rather enter the very best ones I like and maybe with more lot size. This way I can handle the trades better and concentrate more on scaling in. Thanks for highlighting that out.
What did I see today on the charts? The trends talk about strong USD and NZD and weak CHF, EUR and JPY.
So the question comes why did I choose NZD/CHF from all these combination when I guess many would have chosen rather JPY. I already have JPY trades, they have a little negative standing and I lost earlier from scaling into losers, I do not do that anymore. Besides that I have an extra reason to go vs. CHF. It is the EUR/CHF peg. We almost reached the 1.20 peg which means I am ready to see a strong move vs. CHF again if the peg is touched. That would give a boost for my trade. I do not see such a catalyst for EUR and JPY. Now comes the question why NZD and not USD. It is a personal reason, I like the strong USD and also ride it but I think the USD hype is just huge and can be tougher to push it high.
What do you think?
IBO
usually you share your view on trades and pairs and readers do it not so often. Although in the last times it also happens. So now I also thought I share you my "live idea", just like ezcurrency and we can talk about it.
I entered NZD/CHF long and not others today although I have seen some good lineups. Reasons, I do not want to enter too many trades when others are still running. I want to concentrate on the process and do not enter many trades. Earlier I did it like ezcurrency, trading a pair across the board but my experience is, it is a lot more difficult to follow all pairs and add to them. So I rather enter the very best ones I like and maybe with more lot size. This way I can handle the trades better and concentrate more on scaling in. Thanks for highlighting that out.
What did I see today on the charts? The trends talk about strong USD and NZD and weak CHF, EUR and JPY.
So the question comes why did I choose NZD/CHF from all these combination when I guess many would have chosen rather JPY. I already have JPY trades, they have a little negative standing and I lost earlier from scaling into losers, I do not do that anymore. Besides that I have an extra reason to go vs. CHF. It is the EUR/CHF peg. We almost reached the 1.20 peg which means I am ready to see a strong move vs. CHF again if the peg is touched. That would give a boost for my trade. I do not see such a catalyst for EUR and JPY. Now comes the question why NZD and not USD. It is a personal reason, I like the strong USD and also ride it but I think the USD hype is just huge and can be tougher to push it high.
What do you think?
IBO