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Your Toughest Problem in FX Trading

  • #1
  • First Post: Oct 25, 2011 10:09pm Oct 25, 2011 10:09pm
Hi all,

I start this thread to show you my toughest problem I have met in this market and I ask you for help.

In return, I will give you solutions as best as I can about your hardest part.

Trader helps trader? Sounds good?

Here is mine:

How to trading muti-pairs using one method?

Each pair has its characteristic, I know the difference is tiny, but it greatly affects the final result.

Could anyone give me a clue of that?
No one wants to be defeated~
  • #2
  • Oct 26, 2011 10:31am Oct 26, 2011 10:31am
Nice thread : )

I think you should decrease number of pairs to trade. Its like proffesion, you cant be excellent lawyer, doctor, businessman, all in one ... you have to stick to one and become master of this.

So my personal opinion is .. .choose one or two most profitable pairs for your strategy and become master of that one/two .. pairs.

Regards

G
  • #3
  • Oct 26, 2011 10:49am Oct 26, 2011 10:49am
Quoting GrRt
Nice thread : )

I think you should decrease number of pairs to trade. Its like proffesion, you cant be excellent lawyer, doctor, businessman, all in one ... you have to stick to one and become master of this.

So my personal opinion is .. .choose one or two most profitable pairs for your strategy and become master of that one/two .. pairs.

Regards

G
very well said,thats very true.
Trade responsiblypatience is the key/Swing trader
  • #4
  • Oct 26, 2011 10:55am Oct 26, 2011 10:55am
its best as the above says: be professional in one rather than mess up in 3 or more.

i trade euro and gold with cycles, and psycho levels, and supply ddemand, and sup/res..

i once looked at aud/nzd and it kills me..

thats why u should have ur 'lady' selected from all the other ladies. some like this lady some like that, and to play and dance with her, you need to get to know her first, how she dances, then truly u can dance with her, with ur own methods
Have I got something on my face, SOLDIER?
  • #5
  • Oct 26, 2011 1:40pm Oct 26, 2011 1:40pm
Quoting jonirrenicus
Hi all,

I start this thread to show you my toughest problem I have met in this market and I ask you for help.

In return, I will give you solutions as best as I can about your hardest part.

Trader helps trader? Sounds good?

Here is mine:

How to trading muti-pairs using one method?

Each pair has its characteristic, I know the difference is tiny, but it greatly affects the final result.

Could anyone give me a clue of that?
You can satisfy your need for trading multiple pairs (if you have such a urge) by focusing on cross pairs. eg. eur usd jpy would give you multiple crosses to study. In fact studying crosses are essential as all currencies are interdependent. Just avoid venturing into aud cad nzd etc to maintain your focus as they are very different economies.

my problem ? I smoke too much when in front of my screen. hehe
  • #6
  • Oct 26, 2011 2:14pm Oct 26, 2011 2:14pm
Quoting aiyahmarklah
You can satisfy your need for trading multiple pairs (if you have such a urge) by focusing on cross pairs. eg. eur usd jpy would give you multiple crosses to study. In fact studying crosses are essential as all currencies are interdependent. Just avoid venturing into aud cad nzd etc to maintain your focus as they are very different economies.

my problem ? I smoke too much when in front of my screen. hehe
hehe aud/nzd is a challenge to short sometimes.. cross pairs sometimes have a more violent over-reactive reaction to high impact news. such as the eur/cad, eur/aud, etc. gbp/jpy is what is booming these days in the cross pair market, and because it flies around +200 pips range per day. in the end its your choice, just make sure u can dance around with lots of ladies
Have I got something on my face, SOLDIER?
  • #7
  • Oct 26, 2011 2:43pm Oct 26, 2011 2:43pm
Quoting bumapatria
hehe aud/nzd is a challenge to short sometimes.. cross pairs sometimes have a more violent over-reactive reaction to high impact news. such as the eur/cad, eur/aud, etc. gbp/jpy is what is booming these days in the cross pair market, and because it flies around +200 pips range per day. in the end its your choice, just make sure u can dance around with lots of ladies
under current circumstances the euro actually averaged a higher pip range than geppy. crosses are volatile mainly due to lower liquidity. but like you say in the end its really your choice.
  • #8
  • Oct 26, 2011 9:51pm Oct 26, 2011 9:51pm
Thanks for all the replies!

I think the method for EU can also be used on UCHF, they are totally opposite moving pairs.

test speaks for it self.

GU and EU are totally different....

In short, I will only concentrate on EU/UC from now on.

thanks again guys~
Attached Image(s) (click to enlarge)
Click to Enlarge Name: UC.png Size: 30 KB
Click to Enlarge Name: eu.png Size: 32 KB
Click to Enlarge Name: GU.png Size: 91 KB
No one wants to be defeated~
  • #9
  • Oct 26, 2011 10:54pm Oct 26, 2011 10:54pm
Hi, I want to share mine.
I tends to add position on the loss trade. Sometimes it works, but I get margin call too.
I don't trust SL, but I used it when I was off the computer, and when I come back the SL always hit my trade.
I try hedging but add more stress to my trade.
  • #10
  • Oct 27, 2011 12:08am Oct 27, 2011 12:08am
Quoting GrRt
Nice thread : )

I think you should decrease number of pairs to trade. Its like proffesion, you cant be excellent lawyer, doctor, businessman, all in one ... you have to stick to one and become master of this.

So my personal opinion is .. .choose one or two most profitable pairs for your strategy and become master of that one/two .. pairs.

Regards

G
This a totally invalid analogy. It shouldn't take much thinking to understand why.
  • #11
  • Oct 27, 2011 12:18am Oct 27, 2011 12:18am
Quoting uncleti88
tough problem is to know when to exit

http://uncleti88.blogspot.com

The last EXIT is if your r a inter daily trader 5-15m chart, they are R3 S3 if you trade higher TF weekly R3 S3. apply it to all pairs!
No one wants to be defeated~
  • #12
  • Oct 27, 2011 12:33am Oct 27, 2011 12:33am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting koi99
Hi, I want to share mine.
I tends to add position on the loss trade. Sometimes it works, but I get margin call too.
I don't trust SL, but I used it when I was off the computer, and when I come back the SL always hit my trade.
I try hedging but add more stress to my trade.
Exits are the key to success - not entries

before you enter you should always know when you are getting out, by this i don't mean a fixed point on a chart - but the criteria

fixed tp's
fixed Sl
trailing stops
reversal indictions
candle pattern
etc etc etc

what ever it is - learn it, you can enter anywhere, but you must know how to exit, good or bad they are key to trading well

make a plan, learn the plan, trade that plan - stick to the plan
  • #13
  • Oct 27, 2011 1:02am Oct 27, 2011 1:02am
Quoting MPP
Exits are the key to success - not entries

before you enter you should always know when you are getting out, by this i don't mean a fixed point on a chart - but the criteria

fixed tp's
fixed Sl
trailing stops
reversal indictions
candle pattern
etc etc etc

what ever it is - learn it, you can enter anywhere, but you must know how to exit, good or bad they are key to trading well

make a plan, learn the plan, trade that plan - stick to the plan
yup. of course. anyone can enter the battlefield, anyone can fight. can you come out victorious? thats the key.

entry is just one part of the deal.
Have I got something on my face, SOLDIER?
  • #14
  • Oct 27, 2011 1:06am Oct 27, 2011 1:06am
I have a profitable system .....my main issue is paying attention .....good plain old laziness.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #15
  • Oct 27, 2011 1:14am Oct 27, 2011 1:14am
Quoting pemully
I have a profitable system .....my main issue is paying attention .....good plain old laziness.
buddy, i disagree. if you have a profitable system, you are making profit. profit is (usually ) not made from laziness . if you think you are lazy, think yourself lucky. many stay sleepless nights and get addicted to this business. it can become addiction if youre not careful - self experience .

youre not lazy. profit made is not lazy
Have I got something on my face, SOLDIER?
  • #16
  • Oct 27, 2011 1:30am Oct 27, 2011 1:30am
Quoting bumapatria
buddy, i disagree. if you have a profitable system, you are making profit. profit is (usually ) not made from laziness . if you think you are lazy, think yourself lucky. many stay sleepless nights and get addicted to this business. it can become addiction if youre not careful - self experience .

youre not lazy. profit made is not lazy
I basically trade the 123 system on m5 charts which suits my nervous character....I just can't concentrate for more than 2hrs.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #17
  • Oct 27, 2011 1:33am Oct 27, 2011 1:33am
Quoting Dopey
This a totally invalid analogy. It shouldn't take much thinking to understand why.
Agree, you're not so Dopey after all

For me, the OP never mention exactly how many pairs he was trying to trade or which timeframe he is trading.

If you have a mechanical signal on the longer timeframes, and it backtests on all pairs, there is no problem taking them all within your risk exposure.

But if you are doing decretionary entries on 1 minute or 5 minute charts, then I don't think you can juggle too many, especially if don't have an EA to manage open trades for exits & stop loss.

So, jonirrenicus, we need more information
Attached Image (click to enlarge)
Click to Enlarge Name: multi_pairs.gif Size: 147 KB
OPPORTUNITY IS NOWHERE
  • #18
  • Oct 27, 2011 4:26am Oct 27, 2011 4:26am
I don think there is a method can apply to all pairs and remain all profitable.

Simply look on your chart, pairs looks quite same but some pairs have essential differences.
No one wants to be defeated~
  • #19
  • Oct 27, 2011 4:28am Oct 27, 2011 4:28am
Quoting jonirrenicus
I don think there is a method can apply to all pairs and remain all profitable.

Simply look on your chart, pairs looks quite same but some pairs have essential differences.
true, different pairs have different feel to it.
Have I got something on my face, SOLDIER?
  • #20
  • Oct 27, 2011 6:05am Oct 27, 2011 6:05am
Quoting jonirrenicus
I don think there is a method can apply to all pairs and remain all profitable.

Simply look on your chart, pairs looks quite same but some pairs have essential differences.
Well, you have already hit your limits in trading then, becuase of your belief system. You probably already think that you can't make money trading either, so best you give up now.

Yes, you are correct that pairs have essential differences, but for example, a simple moving average crossover method, that can be optimized to correct for those differences, perhaps 13 & 54 work great on one pair but 8 & 45 work on another?

Therefore, same method, different settings
OPPORTUNITY IS NOWHERE
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