Hello All,
As I have stated before, I have not posted here for the obvious reasons. FH and Xux have provided a tool and a very detailed methodology. The work is ours to perform in finding the currency pairs and time frames that suit our needs. That said, I wish to pass on a brief synopsis of my trading style for those of you wishing to ponder something different.
Using SSBO exclusively I trade 2 high volatility pairs only, EJ and XU. I trade these pairs on 1 trade set each, no Marty. What may be a bit different is I trade each of these pairs on 3 time frames, M1, M5, and M15. Not always, but usually my first position entry will be on the M1. While in that trade if the M5 triggers I open a second position, and a third if the M15 eventually triggers. The key is to have a high percentage Breakout Trade for each time frame. My M1's for each pair is just under 80% which give me the confidence on each initial entry and then let the trade be governed by PA from that point forward. The beauty of this is that obviously the SL is the least on the M1, so if PA changes direction, the failed trades are much less of a loss.
It just never made sense to me to try to intimately get to know half a dozen pairs, or more. Really "knowing" your currency pairs is a fundamental MUST.
Anyway, just some food for thought for everyone wanting to explore what can be a very profitable concept with low risk.
Many Pips to all, and wishing everyone a lifetime of success.
As I have stated before, I have not posted here for the obvious reasons. FH and Xux have provided a tool and a very detailed methodology. The work is ours to perform in finding the currency pairs and time frames that suit our needs. That said, I wish to pass on a brief synopsis of my trading style for those of you wishing to ponder something different.
Using SSBO exclusively I trade 2 high volatility pairs only, EJ and XU. I trade these pairs on 1 trade set each, no Marty. What may be a bit different is I trade each of these pairs on 3 time frames, M1, M5, and M15. Not always, but usually my first position entry will be on the M1. While in that trade if the M5 triggers I open a second position, and a third if the M15 eventually triggers. The key is to have a high percentage Breakout Trade for each time frame. My M1's for each pair is just under 80% which give me the confidence on each initial entry and then let the trade be governed by PA from that point forward. The beauty of this is that obviously the SL is the least on the M1, so if PA changes direction, the failed trades are much less of a loss.
It just never made sense to me to try to intimately get to know half a dozen pairs, or more. Really "knowing" your currency pairs is a fundamental MUST.
Anyway, just some food for thought for everyone wanting to explore what can be a very profitable concept with low risk.
Many Pips to all, and wishing everyone a lifetime of success.
Wherever PA Goes ~I Go