SPES Financial daily trading opportunities update 02/10/2015
{quote} my word only my opinion and my experience not intend to disturb. In my opinion the word "system" actually is the system beneath our brain not some set rigid rules wrote on a paper. market is fully dynamic like a wild beast. if you are good with this system then its great and happy for you. if someday you get difficulties and feel the system not work, then remember this word from your friend reminder.
I can hardly say this system will work forever. However, it is only based on traditional indicators like S/R leve, candlesticks, MA, trendline. These indicators had been used by most traders in past decades even more than 100 years. As long as these indicators works, this system may do. This system has hard times, such as July - August 2014, when pairs like EURUSD only has 30-40 pips movement per day. This August is difficult too with many abnormal movements. I had no trades or few trades with small loss among hard times, and I could recover these losses and make more profits when the market goes back to normal.
When multiple valid setups presents themselves simultaneously do you select one or do you trade all of them with smaller sizes Thanks
Here is an example of your question, it's yesterday's non-farm payroll's trading. We know that the USD was strong and we should buy it, but at that time I would like to choose USDJPY but not GBPUSD as it had gone a long way down yesterday before data releasing.
Of course sometimes the pair you choose will have a worse performance than other chances, but this is the real trading.