or something similar to 
I remember reading a thread here where somone asked what pairs they should trade. D's recommendation was different from most people, he recommended EUR/GBP, EUR/USD & GBP/USD (or somethig like that). This seemed strange to me at the time, why bother trading three pairs that so obviously have such strong correlations with each other. If you went long on e/u and long on g/u and the usd strengthed you'd lose on both trades! Foolishness!!!
Well for some reason the idea of trading three so closely related pairs stuck and since my strategy had been steadily losing since sub prime hit I need to look around for a modification of what I was doing. So after not trading for a month or so and watching these three and AUD/JPY, AUD/USD, USD/JPY I discovered something quite tradable using the kernal of my original system.
I've ended up trading the Aussie and Yen pairs because I am still working full time and think they are better long term trades because of the potential carry.
For exmpale:
Look for a long signal on aud/jpy (because of my choice to hold for long periods of time and the desire to aquire both pips and interest), when you see it, have a look at the other pairs in isolation, ie with out regard to the other two. Analyse them, look at your resistance points and pivots. If say the a/u is 50 pips from resistance and going long, the u/j is channelling sidways then a long a/j is probably a good bet, just make sure you get out before the a/u hits resistance. There are many permutations but I thought I'd drop this idea into the newbie area hoping that someone else can win from this.
Regards
PS: I've been trading this method for three months now on daily, hourly and five minute time frames with very good results.
I remember reading a thread here where somone asked what pairs they should trade. D's recommendation was different from most people, he recommended EUR/GBP, EUR/USD & GBP/USD (or somethig like that). This seemed strange to me at the time, why bother trading three pairs that so obviously have such strong correlations with each other. If you went long on e/u and long on g/u and the usd strengthed you'd lose on both trades! Foolishness!!!
Well for some reason the idea of trading three so closely related pairs stuck and since my strategy had been steadily losing since sub prime hit I need to look around for a modification of what I was doing. So after not trading for a month or so and watching these three and AUD/JPY, AUD/USD, USD/JPY I discovered something quite tradable using the kernal of my original system.
I've ended up trading the Aussie and Yen pairs because I am still working full time and think they are better long term trades because of the potential carry.
For exmpale:
Look for a long signal on aud/jpy (because of my choice to hold for long periods of time and the desire to aquire both pips and interest), when you see it, have a look at the other pairs in isolation, ie with out regard to the other two. Analyse them, look at your resistance points and pivots. If say the a/u is 50 pips from resistance and going long, the u/j is channelling sidways then a long a/j is probably a good bet, just make sure you get out before the a/u hits resistance. There are many permutations but I thought I'd drop this idea into the newbie area hoping that someone else can win from this.
Regards
PS: I've been trading this method for three months now on daily, hourly and five minute time frames with very good results.
