Hi Oluwadare: thanks for your contribution. Very interesting.
I have a couple of questions.
Moving Average. Do you apply it to BOTH pairs you are trading (thus to all single charts) or do you use it on the derived pair? i.e.: if we wish to trade EURUSD/GBPUSD we apply the EMAs to EURGBP only? Or, also, do you use other indicators like "basket profit 2 pairs", which plots a synthetic line of the 2 chosen pairs?
(If you post a chart it would be fine)
Risk.
When you say you don't risk more than 1% and you say you use opposite orders 200 pips away, you mean 200 pips x 2 pairs (so 400) are 1% of your trading capital?
Till now I didn't check such long timeframes, but I feel it makes sense (from a correlation point of view).
I have a couple of questions.
Disliked2.I also use ema 3,10 and parabolic SAR(0.1,0.1)- where ema 3 cross ema 10 with one parabolic indicator as entry signal for buy or sell.
4. I don't use stop loss. I risk 1% and use either a buystop or sellstop about 200 pips away.If the trade is buy, I use sellstop; if it is sell, I use buystop.(I only use it in-case the unforeseen happens)Ignored
(If you post a chart it would be fine)
Risk.
When you say you don't risk more than 1% and you say you use opposite orders 200 pips away, you mean 200 pips x 2 pairs (so 400) are 1% of your trading capital?
Disliked2.I also use ema 3,10 and parabolic SAR(0.1,0.1)- where ema 3 cross ema 10 with one parabolic indicator as entry signal for buy or sell.
4. I don't use stop loss. I risk 1% and use either a buystop or sellstop about 200 pips away.If the trade is buy, I use sellstop; if it is sell, I use buystop.(I only use it in-case the unforeseen happens)Ignored