{quote} At BRN 1.4300, a buy trigger would be counter trend so it will grab and run type of trade. A sell trigger would be good but that would mean we see a bearish W1 and MN close.....but we are shadow trading today.
Have a question for traders, who trade correlated pairs. How do you decide on which pair it's better to enter when the situations are almost the same? For example EUR/AUD and GBP/AUD. Which pair to choose in different situations? Often we see almost the same setups on such pairs, but not always they go in the same way. For example, one pair can move 20 pips with retracements and not really good volatility, and another one goes 40 pips with strong nice move.
Kind of a question of luck, especially when it comes to pairs like EA and GA, EJ and GJ... Both move well, more or less, so it doesn't matter as much {quote} In general I'd rather take a setup on gbpaud than euraud, GA tends to move a bit more than EA. It's hard to tell, sometimes I land on the one that moves 100 pips, sometimes I screw up and end up taking the plunge on a pair that moves 20 pips and stalls while its correlated pair goes thru the roof
GA tends to move a bit more than EA
{quote} Hi Guido, We usually like to give each trade some 'room to breathe' hence not to place our initial SL too close to the Entry Price. One way is to use the volatility. For EURAUD, the H4 volatility is higher than other USD major pairs, so using 2 times the ATR(10) would roughly give 93 pips as initial SL which is the trade Risk or 'R'. Another way is to place the initial SL using the 2-Bars Look Back method, i.e. to place the iSL at the high of the previous 2 bars. In this example, that would also be where the last swing high was. That would...
.Hi all. I am a rookie and am trying to trade with only a simple 21 moving average and candlesticks. I use the simple rule that when the candlesticks cross from below the moving average to above it, then it's an opportunity to buy and vice versa. I opened a demo account with a $100 deposit but I seem not to be making progress. Also, my leverage is 1:100. Please anyone help me in any way that you can coz I am intending on funding my real account with $100 soon and start trading. Please, how can I perfect this trading system that I am trying to use....
I hope this helps, and once again, don't think I'm being rude here.
EURAUD H1 trade update with CaveManager. A new H1 candle opens, CM now moves the SL to 10pips above the previous candle high. {image}
