[quote=T.E.Lawrence;2997069]So you wait for a profit and don't close a trade, even when pairs crossed each other?quote]
CORRECT
CORRECT
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DislikedWhat a setup! Nice place to enter a trade, isnt it?
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I've just added another short(euro) & long(cable) to my existing trade. It just looks so beautiful.
And, what do you think about adding to already existing trade?Ignored
DislikedDreamliner, can you please let everybody know what pairs you've used with this system? I know you've mentioned some, but I'd like to know which ones you watch regularly.Ignored
DislikedEur/Usd and Gbp/Usd
Usd/Jpy and Gbp/Jpy
Gbp/Usd and Gbp/Chf
Usd/Jpy and Eur/Jpy
Usd/Jpy and Eur/Chf
These are the main ones, though I've traded others that are negatively correlated. I don't like that as much now, though, as it is too risky. I mainly trade the above ones. I've just completed this week's trading with a 68% increase on a live account (mainly because of the huge trade that Eur/Usd and Gbp/Usd gave us yesterday and today).Ignored
DislikedThanks for the list. I'm glad to hear you made some money on the recent Euro&Cable splits. I've had a rough stretch. They split last thursday and continued splitting until yesterday, that's the longest run I'd seen yet - serious DD. How did you avoid it?Ignored
DislikedI average in, that's how I avoid huge drawdowns. I take 1/5th of the position size I want to enter the trade, then I enter that when it looks good. If it moves against I average in a total of 5 times.
Except yesterday of course, that was the best looking entry I'd seen in a long time so I threw the whole farm at it .Ignored
DislikedI've taken a very similiar approach, but I was completely averaged in by Monday of this week - Leaving a full four days of tears and drawdown! When did you start phasing in to Euro/Cable?Ignored
DislikedI entered my first on the 26th, and then I threw the farm at it yesterday. The reason I hadn't entered until the 26th is because I was in a lot of the other pairs and didn't have an available account to trade.
Great to not have a losing trade yet, right?Ignored
DislikedNah, I've had some losers. The trade I'm currently in (since last Thursday) will be a big loss. I'm holding on for the lines to cross again, although once they do I'm sure I'll still be in the red. Prior to my current trades I had only lost once or twice, and they were very small.
I'm surprised to hear that you're still batting 1000. My problem is that I always enter too early after a split. Sometimes that can be very profitable, but other times... it leaves you high and dry as the split widens.Ignored
DislikedWhy are you closing at a loss? Why not hold on until a profit? To each his own I guess, but I don't close until in profit. It's up to you.
It takes experience to know how much of a gap is a good entry. After awhile you can just spot it by eyeballing it. Like yesterday, that was the biggest split I have ever seen, it happened within an hour, and there was just no way to lose on that one.Ignored
DislikedHi
Which charts do you recommend to use for this system. I have been using over lay chart indicator but I am not very happy with itIgnored