Attachments: Trading is as simple as 1-2-3

Trading is as simple as 1-2-3

#10,941
Jul 21, 2021 3:31am Jul 21, 2021 3:31am

lemercenaire
Joined Oct 2015 | Status: Trader | 18,269 Posts

Quoting TheZenienss

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{quote} I'm using the same 10 pairs that Hal7 mentioned. I put an alert on each one. As soon as I get a new signal, I check the chart and place orders. I think after a while I will have enough data to know which pair might be more profitable. Thanks for your advice.

Ignored

Fair enough. Whatever works for you.

#10,942
Jul 21, 2021 3:40am Jul 21, 2021 3:40am

hal7
Joined Apr 2011 | Status: Trader | 3,454 Posts

Quoting TheZenienss

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{quote} I wish had your skills to pick only the good trades!!! As you can see on my previous posts those were losses !!!

Ignored

I would concur with Lem, as he is usually right. Focusing on one pair starting out you gain a better understanding than a shot gun approach. Also look at what TooSlow does, just the JPY. I scan 10 pairs and that was after several years of doing this, not several days. Also I trade about 3 other strategies and 1-2-3 is just at one time of my trading day. Less about skill, more about time.

#10,943
Jul 21, 2021 9:46am Jul 21, 2021 9:46am

skoras
| Joined Aug 2008 | Status: Trader | 38 Posts

Quoting TheZenienss

Disliked

{quote} I'm using the same 10 pairs that Hal7 mentioned. I put an alert on each one. As soon as I get a new signal, I check the chart and place orders. I think after a while I will have enough data to know which pair might be more profitable. Thanks for your advice.

Ignored

Consider risk management. Taking several trades on high corelated pairs increase your risk. Check how many times NZD revers diffrent than AUD; AUD diffrent than EUR; EUR diffrent than CAD; EUR diffrent than CHF and so on.
Let say you took 7 trades at one time that USD will go down and it went oposite and let assume you risk 1% per trade. At the end you will lose 7% of your account. Now imagine 5 trades in the row like this.

Since April I am still learning HOLO method and I trade only EUR/USD and since I stopped scanning 10 pairs just for signal I could focus on price action and after >50 trades I think I got it.
Another suggestions: do what Lem advices couple of times regarding just watching price action with one/two lines. For me when I did it I've got first "eureka". Secondly read all posts in this thread (I pick-up HOLO, but I red all posts on both threads) and after 30 trades do it again starting when Lem and PippyTheGrt joined to these discussions. What was a diffrence for me reading first and second time.
First time I focus on method and technical aspects like entry, exit, profits.
Second time I found some posts very helpfull while reading first time they seems to be useless.
Last suggestion, I checked all my trades but I focused only on positive to find out why they were good, before I was focusing on lost trades in order to avoid them and except fraigh train there is not to much you can do.

#10,944
Jul 21, 2021 11:35pm Jul 21, 2021 11:35pm