How do you choose what to trade? | Page 4 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Time Frame Vs Personality, Which to choose as Main Time Frame? Who Are You? 10 replies

Why do you choose forex? 15 replies

If you could choose 4, 6 or 8 pairs, which would they be? 6 replies

MICRO-LOT broker you already used/will choose,Oanda,FxSol,I nterbankFx,FXDD,EFX, other? 24 replies

EFX, Why will you choose them ? 29 replies

Attachments: How do you choose what to trade?
Exit Attachments

How do you choose what to trade?

  • #61
  • Aug 30, 2021 12:17am Aug 30, 2021 12:17am
Quoting RichClaws
The main reasons for choosing a pair are activity on it and a signal to enter a position.
Yeah but trade management is not enough. You could have a flawless trade management but if applied to ALL pairs, many pairs will be working against you. In other words, trim the fat, keep the meat. This is what accuracy is. The most important thing is to determine which pairs to trade each day.
  • #62
  • Aug 30, 2021 3:07am Aug 30, 2021 3:07am
Everyday, the market structure will reveal a weak or strong currency to be traded. It's that simple and it involves no story telling, etc.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2021-08-30 at 4.03.42 PM.jpg Size: 171 KB
  • #63
  • Aug 30, 2021 3:31am Aug 30, 2021 3:31am
Quoting ohyeah
I believe I've developed an easy and reliable method of picking which pairs to trade next day. Let's try and see how well it works. If it works well, I'll share here. Forecast for Monday August 30: CAD is weak. 1. AUDCAD is Buy 2. CADCHF is Sell 3. EURCAD is Buy 4. NZDCAD is Buy
how's CAD today?
  • #64
  • Aug 30, 2021 3:33am Aug 30, 2021 3:33am
Quoting paladin1979
{quote} how's CAD today?
As expected, CAD went into 500+ net pips earlier during the Asian session. But it's a demo account so I just let it equity run and naturally, the equity drops at some point since the trades are in one direction.
  • #65
  • Aug 30, 2021 3:35am Aug 30, 2021 3:35am
Quoting paladin1979
{quote} how's CAD today?
The H1 strategies on my TEs also did fine for CAD but I'm definitely liking the market structure method of identifying which currency to trade. I can see this to easily net 500 pips daily.
  • #66
  • Jul 29, 2022 9:30pm Jul 29, 2022 9:30pm
Using a different system, below are the equity curves for trading on Friday July 29, 2022 starting at London Open with red news on USD at 15:30.

AUD

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2022-07-30 at 10.23.58 AM.jpg Size: 126 KB

CAD

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2022-07-30 at 10.24.49 AM.jpg Size: 116 KB

CHF

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2022-07-30 at 10.25.35 AM.jpg Size: 132 KB

EUR

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2022-07-30 at 10.26.03 AM.jpg Size: 135 KB

JPY

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2022-07-30 at 10.26.36 AM.jpg Size: 78 KB

GBP

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2022-07-30 at 10.27.11 AM.jpg Size: 120 KB

NZD

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2022-07-30 at 10.28.13 AM.jpg Size: 126 KB

SGD

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2022-07-30 at 10.28.43 AM.jpg Size: 119 KB

USD

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2022-07-30 at 10.29.13 AM.jpg Size: 125 KB
  • #67
  • Jul 31, 2022 5:11am Jul 31, 2022 5:11am
Creating a trading portfolio is important for everyday trading.
*It allows you to know which pairs/instruments your going to look at on daily basis

Your trading strategy and plan will then tell you which instruments to trade on your portfolio. It is necessary to trade only when your plan and strategy a showing you the right direction.
Tumelo.Matane
The Dynamic Markets Corner All Time Return: -77.5%
  • #68
  • Jul 31, 2022 10:58am Jul 31, 2022 10:58am
Quoting tumelo0195
Creating a trading portfolio is important for everyday trading. *It allows you to know which pairs/instruments your going to look at on daily basis Your trading strategy and plan will then tell you which instruments to trade on your portfolio. It is necessary to trade only when your plan and strategy a showing you the right direction.
What I started testing on Friday is all the currencies starting at London session. I'll continue to post their respective equity curves but it seems, EUR and GBP should do well. If there was more computer resource, I would test New York session too but for now, London only.
  • #69
  • Aug 2, 2022 2:22am Aug 2, 2022 2:22am
Quoting ohyeah
{quote} What I started testing on Friday is all the currencies starting at London session. I'll continue to post their respective equity curves but it seems, EUR and GBP should do well. If there was more computer resource, I would test New York session too but for now, London only.
London session is has liquidity and volatility, chances to succeed are high
Tumelo.Matane
The Dynamic Markets Corner All Time Return: -77.5%
  • #70
  • Aug 2, 2022 2:57am Aug 2, 2022 2:57am
Since I trade momentum I'm looking for fundamental catalysts like economic reports or identify breakout levels which also, when don't hold create some market activity where trading opportunities arise. Momentum trades require patience and some speed advantage.
  • #71
  • Aug 4, 2022 1:39am Aug 4, 2022 1:39am
With all the testing so far it seems the best way is to choose the pairs that are associated with the prominent currency for the session. For example, any GBP will do well during London.
  • #72
  • Aug 4, 2022 2:06am Aug 4, 2022 2:06am
one of the simplest way is to observe the high and low of previous weeks/days.
once the weekly broke down, do the same to daily for break down..
then monitor the lower time frames what price is doing there.
but how many traders choose to be selective and have the patience to wait and observe?
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 5 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #73
  • Aug 4, 2022 2:24am Aug 4, 2022 2:24am
Quoting Inthebox
one of the simplest way is to observe the high and low of previous weeks/days. once the weekly broke down, do the same to daily for break down.. then monitor the lower time frames what price is doing there. but how many traders choose to be selective and have the patience to wait and observe? {image}
I have heard about this method before but I never looked into it. Thanks for the reminder, I'll check it out.
  • #74
  • Aug 4, 2022 3:23am Aug 4, 2022 3:23am
Quoting Inthebox
one of the simplest way is to observe the high and low of previous weeks/days. once the weekly broke down, do the same to daily for break down.. then monitor the lower time frames what price is doing there. but how many traders choose to be selective and have the patience to wait and observe? {image}
Could you explain more by what you mean?
  • #75
  • Aug 4, 2022 3:38am Aug 4, 2022 3:38am
Another useful tool for picking what to trade is the currency index tool here. It would be nice if there were a standalone indicator for currency index.

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2022-08-04 at 4.36.36 PM.jpg Size: 618 KB
  • #76
  • Aug 4, 2022 4:01am Aug 4, 2022 4:01am
Quoting ohyeah
{quote} Could you explain more by what you mean?
Attached Image
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 3 KB
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 3 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #77
  • Aug 4, 2022 4:41am Aug 4, 2022 4:41am
Quoting Inthebox
{quote} {image}{image} {image}
It looks good. This works every time?
  • #78
  • Aug 4, 2022 5:12am Aug 4, 2022 5:12am
Quoting ohyeah
{quote} It looks good. This works every time?
realistically no such thing as works every time.
what i can say is that htf dominates ltf.
even if 10 traders were taught the illusive so called "no lost strategy", they all come back with different results, some lose while some others win.
it's impossible that everyone thinks alike like a robot.
ITB - Seeing Orderliness amongst 'Randomness'
  • #79
  • Aug 4, 2022 6:08am Aug 4, 2022 6:08am
Quoting Inthebox
{quote} realistically no such thing as works every time. what i can say is that htf dominates ltf. even if 10 traders were taught the illusive so called "no lost strategy", they all come back with different results, some lose while some others win. it's impossible that everyone thinks alike like a robot.
Yeah, makes sense.
  • #80
  • Edited 6:46am Aug 4, 2022 6:26am | Edited 6:46am
Bullish forecast on GBPUSD according to Autochartist They usually don't send grenades.
0 traders viewing now