Somebody asked about pairs I trade....well I love volatile pairs, mostly JPY,
but I trade almost any pair if the situation is right...there is no limits!!!
I didnt talked about my SL&TP till now, well my SL is about 30 pips while my
TP are on the another side of the chanel....My most valuable tool is the
expert SL&TP drag by mouse cos I adapt SL constantly trying to squeze
every posible pip out of the setup.....If my trade goes in wanted direction,
I will move my SL to BE after price goes some 50pips in my direction, and I
will move it after that constantly acording to the actual PA....
the best scenario is if price goes to the other side of the chanel(support or resistance)
I never change the SL option if price goes against me....only scenario is that ill close my
trade in smaller loss if im pretty sure that I just made a bad decision(based on PA)!
The thing is I dont care about some 30 pips loss, cos I know that sooner or later I will get into
a trade that will go to the oposite S or R, and my risk to reward ratio will
probably be around 1\10 and more!(depends on pair used)
That is the main reason why I trade 1H....I suck up the losses and then
on one single trade I make them all back and more!
THERE WILL BE TIMES WHEN YOU GOT YOUR SETUP RIGHT ACROSS FEW PAIRS AT THE SAME TIME,
BUT I DONT RECOMEND TRADING ACROSS MULTIPLE PAIRS AT ONCE BECOUSE IF BREAKOUT OCURRS, THERE IS BIG CHANCE THAT THIS BREAKOUT WILL BE ACROSS MULTIPLE PAIRS,
AND YOU WILL PROBABLY GET BURNED ON ALL!!!(ESPECIALY JPY)
Remember that it is all about riding the same directional wave across MTFs!!!
but I trade almost any pair if the situation is right...there is no limits!!!
I didnt talked about my SL&TP till now, well my SL is about 30 pips while my
TP are on the another side of the chanel....My most valuable tool is the
expert SL&TP drag by mouse cos I adapt SL constantly trying to squeze
every posible pip out of the setup.....If my trade goes in wanted direction,
I will move my SL to BE after price goes some 50pips in my direction, and I
will move it after that constantly acording to the actual PA....
the best scenario is if price goes to the other side of the chanel(support or resistance)
I never change the SL option if price goes against me....only scenario is that ill close my
trade in smaller loss if im pretty sure that I just made a bad decision(based on PA)!
The thing is I dont care about some 30 pips loss, cos I know that sooner or later I will get into
a trade that will go to the oposite S or R, and my risk to reward ratio will
probably be around 1\10 and more!(depends on pair used)
That is the main reason why I trade 1H....I suck up the losses and then
on one single trade I make them all back and more!
THERE WILL BE TIMES WHEN YOU GOT YOUR SETUP RIGHT ACROSS FEW PAIRS AT THE SAME TIME,
BUT I DONT RECOMEND TRADING ACROSS MULTIPLE PAIRS AT ONCE BECOUSE IF BREAKOUT OCURRS, THERE IS BIG CHANCE THAT THIS BREAKOUT WILL BE ACROSS MULTIPLE PAIRS,
AND YOU WILL PROBABLY GET BURNED ON ALL!!!(ESPECIALY JPY)
Remember that it is all about riding the same directional wave across MTFs!!!
forexflash