Trading thin liquidity at the boundary of the charts
There are nights when you should just trade and not think, no homework - just start hitting that Buy or Sell button and see what happens. If it goes up to high, sell for a few pips - If it drops a bit, Buy for a few pips - Any trades that caught in a trap, trade your way out of them JUST TRADE WITH AGGRESSION - So on the Beast tonight, about 64 trades and rise in Equity 5.89%. Those are pips won after trading cost. Some trades are on a earlier Chart and not here. Cheers manic Rick {image}
nice work......That is manic. what is the spread you get from your broker?....must be pretty good
its all just one persons opinion....
- Joined Sep 2015 | Status: Member | 1,126 Posts
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Spread on GBPNZD on IC Markets vary’s during the London session from 1.7 pips all the way down to 0.3pips, if traders pay attention.
So when spreads are small, maybe you should be trading.
Interesting it can move from 0.3 to 0.7 in a second, then move back to 0.3. So I wait for that half a second window and execute the trade.
The biggest issue is you need instant execution from your broker when you need it. If there is a lag of a second or two, they are playing games with your account and are choosing to wait for the higher spread before giving you that trade, to max their
own profits.
Cheers Rick
Trading thin liquidity at the boundary of the charts
I like gbpusd for scalping and have a thought on gbpnzd:
If the pair is more volatile and has more spread you would have to widen your stops ,so if gbpnzd is about 5 times the spread of gbpusd than the risk /reward would be about the same ,but gbpnzd has to move alot more to get the same profits from gbpusd ..so it would be about the same thing
Does it make any sense ? I does in my head
If the pair is more volatile and has more spread you would have to widen your stops ,so if gbpnzd is about 5 times the spread of gbpusd than the risk /reward would be about the same ,but gbpnzd has to move alot more to get the same profits from gbpusd ..so it would be about the same thing
Does it make any sense ? I does in my head
- Joined Sep 2015 | Status: Member | 1,126 Posts
I like gbpusd for scalping and have a thought on gbpnzd: If the pair is more volatile and has more spread you would have to widen your stops ,so if gbpnzd is about 5 times the spread of gbpusd than the risk /reward would be about the same ,but gbpnzd has to move alot more to get the same profits from gbpusd ..so it would be about the same thing Does it make any sense ? I does in my head
On the real live trading chart, GBPNZD has longer swings even after trading costs, so you would be easily ahead provided your stops weren't getting hit. The spikes occur more often and offer far more pips.
However, GBPUSD has both good ADR plus cheap trading costs so there is little advantage for most traders unless they were a scalper like me on the M5/M1.
Most traders would be safer on GBPUSD - bottom line.
Some of us like to jump on GBPNZD when its running hard because you can pick up 20 pips in 2 minutes flat. On some days, GU is too slow.
Trading thin liquidity at the boundary of the charts
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 4,498 Posts | Online Now
Tonight's action on the Beast I was looking at the ADR which after open was only 38% for the day - OK its probably going to move soon. I started trading for a few pips long on each trade, looking for some action but not convinced its going up more ( about 14 pips at the top ). I am trading the MA's with the support of my Bias. Then there was that telling move, a long ranging candle with no Wick and it move into my Selling Zone. Also its moving away from the middle of the chart so I expect this move to continue. I can see when I zoom back, the Liquidity...