DislikedHas anyone here found a decent profitable pair with SSBO that is not correlated with EURUSD/GBPUSD that does not do all its tradeable moves in the asian session?
I am trading EURUSD and GBPUSD only but they tend to go the same way most of the time so I don't want to double up on risk if they both can be traded on the same day.
Please don't say GBPJPY, I hate that pair, lost me more money than I care to remember.
Larry
ps good week for me, got GU move through the old CZ yesterday on the 2nd attemptIgnored
Today I was in both the EU and GU trade long trade....last week I had been in a similar situation trading both at the same time.....I've just closed out the EU at break even. Why? Because its silly to be essentially doubling my risk on two pairs that correlate.
From a statistical point of view, the EU for me makes it on the first attempt 73% of the time. All very well and good, and last week I traded successfully with both pairs, but what if it doesn't and this scenario happens when I'm deep into martingaling both currencies!
This is a noob mistake, one which I haven't paid for, thankfully, and seeing the error of my ways I'm in on the currency which I feel is less risky (of course this is on past data) the GU. Yes I'm potentially losing out on profit but I don't care, I'm trading this properly now and not being one of the many failed statistics.
Hope this post has some relevancy to someone....use the system, but don't abuse it. I'm off to see if i can find another pair to trade alongside the GU that won't correlate as much.
Green pips to all
P.S. I could be 20 odd pips up on the EU but I trade the system as is and let the trade run until its conclusion so SSBO is working perfectly for me.