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Trading correlation pairs by using the other pairs

  • #521
  • Jun 8, 2020 5:23am Jun 8, 2020 5:23am
It's just hit my take profit £95, I'm going to find myself a trailing stop.
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  • #522
  • Jun 8, 2020 8:47am Jun 8, 2020 8:47am

I put this trade on this morning, everything was pointing the way I wanted it to

But the very next two candles went green and I decided to get out with a small loss,

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Just look what happened,

I've got to control my emotions somehow if I want to make a success of trading.


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  • #523
  • Jun 8, 2020 9:15am Jun 8, 2020 9:15am
Quoting redfan
I put this trade on this morning, everything was pointing the way I wanted it to But the very next two candles went green and I decided to get out with a small loss, {image} Just look what happened, I've got to control my emotions somehow if I want to make a success of trading. {image}
This why I place my stoploss on most pairs at 30 pips, yes it reduces your lotsize, but it stops you from getting freaked out by a pullback. This happens at the UK open session to clean out stops of those who were Long from the Asian session and to induce UK traders to go Long also, again to get a better price to SELL.

The order management tool "EASY ORDER" places Entry , SL & TP automatically, I have adjusted mine to fit my criteria. One click to set, One click to Submit order.
6 Order types : Instant SELL & BUY, Pending Limit Sell & Buy, Pending Sell Stop & Buy Stop. Order Lines all draggable.

Attached Image (click to enlarge)
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Comment: On your chart Fib tool, price label not showing you need to change £ sign for $ (above the number 4 on your keyboard.
It never gets easier, you just get better
  • #524
  • Jun 8, 2020 2:52pm Jun 8, 2020 2:52pm
Quoting Shabs19
{quote} This why I place my stoploss on most pairs at 30 pips, yes it reduces your lotsize, but it stops you from getting freaked out by a pullback. This happens at the UK open session to clean out stops of those who were Long from the Asian session and to induce UK traders to go Long also, again to get a better price to SELL. The order management tool "EASY ORDER" places Entry , SL & TP automatically, I have adjusted mine to fit my criteria. One click to set, One click to Submit order. 6 Order types : Instant SELL & BUY, Pending Limit Sell & Buy,...
Yes I've got that now, change that sign to dollars,

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  • #525
  • Jun 8, 2020 2:55pm Jun 8, 2020 2:55pm
MAJOR PAIRS

The EUR/AUD is the pairing of the euro and the Australian dollar. The euro is the second most traded currency after the United States dollar, and the Australian dollar is the fifth most traded currency. As a cross-currency, EUR/AUD is fairly liquid and experiences its greatest activity during the euro and U.S. sessions and when Australian data is released during the Asian session.

PAIRS THAT CORRELATE:
EUR/GBP, EUR/JPY, CHF/JPY (CROSS)

The EUR/CAD is the pairing of the euro and the Canadian dollar. Canada’s economy is heavily dependent on exporting raw materials. As a result, the CAD’s strength correlates with the price of oil. This cross-currency pair experiences its greatest activity during the euro and U.S. sessions and is subject to movement based on European and Canadian news announcements.

PAIRS THAT CORRELATE:
EUR/JPY, CAD/JPY, EUR/GBP (CROSS)

The EUR/CHF is the pairing of the euro and the Swiss franc. As a safe-haven currency, the franc is subject to movement during times of social and geopolitical unrest. Otherwise, the pair is usually most active during the euro and U.S. sessions.
EUR

PAIRS THAT CORRELATE:
EUR/CAD, EUR/JPY, CHF/JPY (CROSS)
  • #526
  • Jun 9, 2020 2:38am Jun 9, 2020 2:38am
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  • #527
  • Jun 9, 2020 2:42am Jun 9, 2020 2:42am
UP AND RUNNING
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  • #528
  • Jun 9, 2020 3:15am Jun 9, 2020 3:15am
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  • #529
  • Jun 9, 2020 4:11am Jun 9, 2020 4:11am
Quoting redfan
{image}
My Entry is at your stoploss.
SL1.27294, (30PIPS) ENTRY 1.26988, TP1 1.26682, TP2 1.26376

RR 1:2 TP2 @ ADR 119 pips ( Daily ADR=128 pips)
It never gets easier, you just get better
  • #530
  • Jun 9, 2020 5:00am Jun 9, 2020 5:00am
Quoting redfan
{image}
CLOSE WITH PROFIT

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  • #531
  • Jun 9, 2020 3:06pm Jun 9, 2020 3:06pm
I come across this EA it's an absolutely great tool,
I've used it a few times testing it and I can give it 10 out of 10,
All you have to do is put your stop loss and take profit in the setting,
when you come to place your trade the EA does everything else.
Attached File(s)
File Type: ex4 0 - SL_TP_BE_all_FX_order_types.ex4   9 KB | 232 downloads
  • #532
  • Jun 9, 2020 3:07pm Jun 9, 2020 3:07pm
MAJOR PAIRS

The EUR/GBP is the pairing of the euro and the British pound. Nicknamed the “chunnel,” EUR/GBP is a very popular cross instrument that experiences aggressive moves during the euro and U.S. Sessions.

PAIRS THAT CORRELATE:
CHF/JPY, CAD/JPY, GBP/JPY (CROSS)

The EUR/JPY is the pairing of the euro and the Japanese yen. EUR/JPY is an extremely volatile pair that can move as much as 250 pips in one trading day. The euro is the second most traded currency and the yen is the third, after the United States dollar. Nicknamed the “yuppy” or “euppy,” EUR/JPY is most active during the euro and U.S. Sessions.

PAIRS THAT CORRELATE:
GBP/NZD, GBP/CAD, GBP/USD (CROSS)

The GBP/AUD is the pairing of the British pound and the Australian dollar. The pair is most active during the euro and U.S. sessions and when Australian data is released. Some notable news releases affecting the pair include the Australian RBA rate decision and gross domestic product as well as the UK trade balance and consumer price index.

PAIRS THAT CORRELATE:
GBP/USD, GBP/NZD, GBP/AUD (CROSS)
  • #533
  • Edited 3:03am Jun 10, 2020 2:15am | Edited 3:03am
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  • #534
  • Jun 10, 2020 3:09am Jun 10, 2020 3:09am
1:30 could see a lot of movement be careful.
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  • #535
  • Jun 10, 2020 3:14am Jun 10, 2020 3:14am
up and running.
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  • #536
  • Jun 10, 2020 3:32am Jun 10, 2020 3:32am
move stop line into profit
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  • #537
  • Jun 10, 2020 4:36am Jun 10, 2020 4:36am
Moving average broke on the 5-minute chart,
trade closed nice profit,
Rule 5 if it breaks close the trade,

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  • #538
  • Jun 10, 2020 4:43am Jun 10, 2020 4:43am
This was my trade when it broke the moving average.

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  • #539
  • Jun 10, 2020 6:32am Jun 10, 2020 6:32am
i see that this thread is not of much interest to people.
this is not a coincidence.
lol.
  • #540
  • Jun 10, 2020 8:09am Jun 10, 2020 8:09am
Quoting tiborf71
i see that this thread is not of much interest to people. this is not a coincidence. lol.
Ignore this poster or block him.

As useful as a fart in a spacesuit.........Billy Connolly
It never gets easier, you just get better
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