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Trading multiple pairs at once

  • #1
  • First Post: Jul 19, 2006 8:40pm Jul 19, 2006 8:40pm
I was wondering if any of you trade multiple pairs at once? i have an alert system and put a set amount into each alert. For multiple pairs alerts may vary by 15 minutes and don't happen all at once. I'm relatively new so I'm trading 5-10 minis a trade amd I'm not very comfortable puting in more than that just yet in one trade but will let it ride on multiple pairs. Anyone else use this strategy or just stick with one currency and go big into one?
  • #2
  • Jul 19, 2006 9:01pm Jul 19, 2006 9:01pm
I like to trade eurusd, gbpusd, usdchf. I usu. target 20p - 30p
on each move. In my opinion, this is better than trying to target
60p - 90p on one pair.
  • #3
  • Jul 19, 2006 9:08pm Jul 19, 2006 9:08pm
I trade multiple pairs occasionally. If I can move my stoploss into profit on one pair I will entertain a trade on another pair.

Be careful not to overextend. Watch your money management.
  • #4
  • Jul 19, 2006 9:17pm Jul 19, 2006 9:17pm
Quoting ProdiG
I was wondering if any of you trade multiple pairs at once? i have an alert system and put a set amount into each alert. For multiple pairs alerts may vary by 15 minutes and don't happen all at once. I'm relatively new so I'm trading 5-10 minis a trade amd I'm not very comfortable puting in more than that just yet in one trade but will let it ride on multiple pairs. Anyone else use this strategy or just stick with one currency and go big into one?
Most currency pairs are correlated (i.e. GBP/USD & EUR/USD), so it's better to concentrate on just a few. By watching 3-4 pairs you should have all major market movements covered. Google "currency correlations" and you will know right away what I mean. There are several websites dedicated to this very subject.

Dane
  • #5
  • Jul 19, 2006 9:54pm Jul 19, 2006 9:54pm
I trade a few pairs also, but stay away from pairs that have correlation. No use being wrong twice If you are just starting out, I would recommend watching 2 pairs to start with, a major (USDCHF, GBPUSD, EURUSD, USDJPY), and a cross pair (EURJPY, GBPJPY) as they can have quite different dynamics.
You can quit and they won't care, but you will always know.
  • #6
  • Jul 20, 2006 12:03am Jul 20, 2006 12:03am
After discovering, early on, that no matter how many checks I put on my "Before I Enter" list, I can still be wrong, I seldom trade One Pair.

Usually I have an offset trade [hedge] of lesser volatility than the main trade which I will discard if proven right on the Main.

That, plus I track ~ a dozen pairs for opportunityisnowhere and often have 3-4 Mains Open.

Opportunity is nowhere ? ? ?
OR
Oportunity is now here. ? ? ?
  • #7
  • Jul 20, 2006 12:09am Jul 20, 2006 12:09am
I watch about seven different pairs for my swing trading strategy. I don't usually like to have more than four open. It just gets harder to manage.
Mr. Trend
  • #8
  • Jul 20, 2006 2:32am Jul 20, 2006 2:32am
Akuma99: Is this a hedging strategy you are referring to? If so, would
you give an example of how you implement it? In my opinion, two great
pairs to trade that are inversely correlated would be gbpusd and usdchf,
which are more inversely correlated than the majors and the cross pairs
you listed.


Quoting Akuma99
I trade a few pairs also, but stay away from pairs that have correlation. No use being wrong twice If you are just starting out, I would recommend watching 2 pairs to start with, a major (USDCHF, GBPUSD, EURUSD, USDJPY), and a cross pair (EURJPY, GBPJPY) as they can have quite different dynamics.
  • #9
  • Last Post: Jul 20, 2006 2:49am Jul 20, 2006 2:49am
Quoting eagle4x
Akuma99: Is this a hedging strategy you are referring to? If so, would
you give an example of how you implement it? In my opinion, two great
pairs to trade that are inversely correlated would be gbpusd and usdchf,
which are more inversely correlated than the majors and the cross pairs
you listed.
I'm not up to speed with this correlation thingy, usually stick to one trade at a time. Frustrating when I've a trade in place and then see another opportunity.
I'm going to get to grips with this so I know which pairs to avoid, Here's a starting point

http://www.investopedia.com/articles.../05/051905.asp

http://www.mataf.net/en/analysis-correlation.htm

Pete
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