multiple systems per pair/multiple pairs per system?

hello, i'm very new to forex, and i've spent the past month basically reading and learning as much as possible while demoing platforms from various brokers.

i've read that beginners should focus only on a single pair to be able to understand how the action moves on a day to day basis. however, some systems don't trade that often (sometimes no entries for 2 or 3 days)...so i was wondering if there are any downsides to trading multiple systems on a single pair.

i'm pretty good with following rules, so if i have a 5M system, 15M system, 4HR system, 1D system all on 1 pair, and i simply follow the rules for all of the systems, i should be able to learn about the particular pair i'm trading much faster, right?

are there any downsides to this approach? thanks.

May not be the same as your thinking but I was listening to an audio by a trader named Andrew Abraham. He described a methodology of using 10 different systems on the S&P 500. When 6 or more line up he then buys/sells in that direction. He uses an excel spreadsheet to track the systems.
The methodology works for him, but apparently is a lot of work keeping track of the systems. I suppose you could cobble together something as there has got to be at least 10 systems here on FF.

I've read the same concept of running multiple EAs on a single pair I don't know if they have solved the issue of one EA to control the others (One ring to rule them all) as you would need a master EA to determine GO / NO GO on alignment.

Roland the EA guy does something like that I think, multiple systems, allthough I dont think he runs them all at once.

Edit: I think what he does is switch them on and off depending on current market conditions and what kind of system he thinks should do well.

Smart guy.

Hello all, just wanted to point out that if you are new to fx beware of trading the 4 majors and focusing on one pair. This is how you will lose your money the quickest, the 4 majors are the most difficult to trade as they have the highest volume therefore they generally respect tech the least of all! IOM of course

If you stick to viewing one pair as the books tell you, you are then blinded to the rest of the market and are likely to lose. For example, lets take EU and swissy, say for talking sake you are only viewing EU and you have an overbought condition and bearish div, wouldn't it make good market sense to view the same tech on swissy (since they are inverted) and see if it is oversold and you have bullish divergence? You increase your chances by simply viewing swissy when trading EU or vice versa. If EU is at support, glance at swissy and see if it is at resistance etc

Will give you an example of how l use correlated and NON CORRELATED (INVERTED) pairs below

the loony usdcad is often inversely related to the cadjpy


Loony is at support, made a higher low on hourly, first clue for long position

1. http://img4up.com/images/84531423469325131314.gif



Lets look at cadjpy, is it at a resistance level of some sort?

2. http://img4up.com/images/27222428289673808641.gif



Lets take a closer look, also notice the exact same time and the price configuarations (the light grey boxes) are nearly to the precise candle inversely related too! The mind boggles

3. http://img4up.com/images/46805565363539414821.gif



Hidden in plain view, watch the market with correlations and it will help you. Hope this helps and you will see, focusing on one pair decreases your chances as this whole market is full of relationships and when those relationships coincide you increase your chances and better understand the market makers as your blindness is their opportunity


Kind regards


Red