MY Journal-phil13

Thanks phil, just not understand clear how you chose the pair for hedging, maybe later, it come to me. Thanks again.

Hi protuberanec

The problem is these days the currencies are being so manipulated by central banks and an overwhelming amount of fake news that the correlations that used to be there are rarely seen anymore, this makes it harder to actually use a true hedge in another pair anymore, best you can do these days is manage positions in the 3 triangulated pairs like what I have shown and use some of the winners to help offset any losses, also many brokers allow same pair hedging now, but using a hedge is not always the best way to trade, really I have found you need to separate the two trades once started and use the winner to offset some of the loss as I have shown while still banking some profit for yourself along the way, there is just so much unexpected news to deal with now that places like twitter seem to be the preferred way of releasing news these days that unless you are trading very short term then you will get caught by this and so your MO has to adapt to allow for this and the much lower liquidity and volatility in the market these days, the 3K’s we used to use are now much harder to see a nice synced up move in, I find the USDX more helpful to watch with another USD pair to trade, the good days of a few years ago when we used to get hundreds of pips moves and sometimes both ways are gone and who knows if they will ever return? But trading is about adapting and managing what you have in front of you in now, everything changes as it evolves.

regards

Phil.

Thanks phil, I am try same pair hedging like you show it.

E/U trade...

going to post this trade in 2 parts, here is the first... warning! so far is 104 screenshots! the main reason this has taken so long is because i am having to do something else out that takes me away for weeks at time and i have to spend other time sorting out daily at times, really probably should not be trading but trying to show things in the hope of helping others, remember every trade on this account is shown here, nothing is hidden at all, this live account was just set up for demoing what can be done with a little thought and grounding from fti's thread.

please also note my style/MO of managing my trades may not be suited to everyone so just take and use what you feel may benefit you. mine has been developed through many many months/years of practice to stretch my personal tolerances to be more suited to the trading world.



















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END OF PART 1... to be continued!

https://www.forexfactory.com/attachm...1&d=1572344039

dear phil,

how are you?
MPS means ...

Hi Pannet1

I am ok thanks, hope things are well with you my friend.

MPS = market price structure… not market structure that fti talks of. The price structure moves in a pump and rest motion and those lines map these out, they are not S/R lines as that needs price to hit both sides to be that, as the market makes new levels, I mark out the ‘price (moves) structure’.

Regards

Phil.



also see this post..

https://www.forexfactory.com/showthr...1#post10076531

Dear Phil, Things are sort of OK OK with me. The marking itself makes me think that trading is so easy. Thanks my friend for the reply.

E/U trade update... part 2



















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to be continued....