DislikedI know it is just silly m1 chart, but see the compression range? It will soon go poof. And after such a strong move up, well, theory says up. {image}Ignored
Patience is a virtue...
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DislikedI know it is just silly m1 chart, but see the compression range? It will soon go poof. And after such a strong move up, well, theory says up. {image}Ignored
DislikedNEVER (!!!!) trade with money you can't afford to lose, and only start trading live (or with amounts that matter to you) once you thoroughly back and forward tested your system. If you haven't been profitable on a demo account for at least (!!!) 3 months, don't even think about going live. Of course some might disagree, but I would never trade based on an untested strategy.Ignored
DislikedThis the tricky part is, you will have to train your eyes watching the movement and become as visual memory predicting where the movement of each pair (E/J, U/J and E/U) will impact the other pair and most importantly to see the real move from noises caused by other pairs. Well, at least I find this is the easiest for me to trade Yen Crosses. If you know the levels, say for E/U and U/J you can accurately predict where it's going to hit for E/J and vice versa. Probably this Excel sheet will help, there are too many combinations and probabilities...Ignored
DislikedThanks I actually use the spreadsheet to explain as it is easier than wordsIgnored
DislikedI use a simple correlation indi based on RSI to pick up when EU EY and UY points in the same direction. Combined with trade levels/beats of 50 pips on EY. It provides high probability trades and if the correlation stacks up, normally a big ADR is printed. The downside is that you may have a few days when correlation is out of whack but when they line up , you make it up in no time at all. {image}Ignored
DislikedHey Ken, I've often observed that E/U and E/J move in sync. Does that mean that U/J is stagnant at these times? Are there times when the three pairs will not behave according to the set of equations you presented earlier? Cheers for your advice, much appreciated.Ignored
DislikedHey Ken, I've often observed that E/U and E/J move in sync. Does that mean that U/J is stagnant at these times? Are there times when the three pairs will not behave according to the set of equations you presented earlier? Cheers for your advice, much appreciated.Ignored
DislikedThis is precisely why I prefer to avoid the crosses and only trade the major USD pairs. It can be very frustrating if for example you are shorting EJ and the EU goes bearish and at the same time, UJ cancels out the move. I find it easier to juggle one pair at a time and that way, usually I manage to keep all the balls in the air.Ignored
DislikedSorry to hear that, probably too late to say this but you can't blindly follow anyone when it comes to trade decision. {image}Ignored
DislikedSorry to hear that, probably too late to say this but you can't blindly follow anyone when it comes to trade decision. {image}Ignored
DislikedSorry to hear that, probably too late to say this but you can't blindly follow anyone when it comes to trade decision. {image}Ignored
DislikedHey Ken, I've often observed that E/U and E/J move in sync. Does that mean that U/J is stagnant at these times?Ignored
QuoteDislikedAre there times when the three pairs will not behave according to the set of equations you presented earlier? Cheers for your advice, much appreciated.