Specialize in only one market

If you Limit yourself to, for example, U/j.. in 2014 u/j got stuck at 1.02 for 8 months and had some very very small movment days.. 14 pips the entire day!
Thats the downside of limiting yourself to just one pair.

I specialize in repeating price behavors myself.

Watching too many charts might overload you, but watching too few might limit you, especally if that pair enters a weekly/monthly consolidation and dosn't do much.
Each trader has his own limits.. know them!

Oh, I never heard that EUR/USD is one of the hardest pairs to trade. Do you have any kind of information about that?

I think the easiest pair to trade is UC and GU. Next to it is EURCHF, but you have to be very careful about this pair.
The 4th is EURGBP. Next NU and AU.

UJ is quite hard and doesn't follow trend. I avoid EU since I have never been profitable at this pair. But i know some like it very much.

i shorted eurusd 2014 and that was easy because there were a clear trend but usualy is it hard to see a structure in that pair (take a look in the weekly chart 2009 - 2014). Look at the consolidation for the whole last year till now. Of course there are levels which you can trade but its not easy. I saw a good video about that but it is in German language.
Maybe you ask these guys on FF http://www.forexfactory.com/showthre...372&page=53691

basket pairs is the better

look to this chart for onr pair and tell me

do you think it is healthy to stop on one pair

no it is not

you need at least 3 to 5 pairs to begin making profit

Hi! What do you base your post on? Own experience? Thanks for your contribution to the thread.

Hi Samer1970. I dont really understand what you are trying to say.

hm... I trade with two pairs and even thinking about gold.. May be it's really better to consentrate on one pair, but i don't have problems with two pairs... But I can't say that I am very successfull in both of them))

Hi. Welcome. Yes, experience. I like to play after Europe closed; or US closed and Asia open.

I don't like Europe session. It's too short between Asia closed and US open.

It is better idea, trade only one pair.It will reduce your time in trading.You can trade only GBPUSD. Because it is volatile and movable pair than Eurusd . Also you can use only price action in naked chart it will save your time. After trading one month or two month in this way, you will see you need total 1 or 2 hour for trading.

Hi swetrader hopes that this will help you (You may want to do both pair of your targeted pair) and the rest especially newbies to safely trade Forex Market with conviction and gain consistent percentage of profit gradually.

BASICS OF CROSS FOREIGN INTER-MARKET TECHNIQUE

INTRODUCTION

1. Market is divided into 2 main segments:
a. Equity Risked Security
b. Bond Secured Security

2. Apart of that there are another 2 markets that exist:
a. Commodities
b. Forex

3. As a trader, it is a must to really understand these 4 basic segments and the interrelation.

4. What is FOREX?
The foreign exchange market is the place where currencies are traded. Currencies are important to most people around the world, whether they realize it or not, because currencies need to be exchanged in order to conduct foreign trade and business. If you are living in the U.S. and want to buy cheese from France, either you or the company that you buy the cheese from has to pay the French for the cheese in euros (EUR). This means that the U.S. importer would have to exchange the equivalent value of U.S. dollars (USD) into euros. The same goes for traveling. A French tourist in Egypt cant pay in euros to see the pyramids because its not the locally accepted currency. As such, the tourist has to exchange the euros for the local currency, in this case the Egyptian pound, at the current exchange rate.
The need to exchange currencies is the primary reason why the forex market is the largest, most liquid financial market in the world. It dwarfs other markets in size, even the stock market, with an average traded value of around U.S. $2,000 billion per day. (The total volume changes all the time, but as of August 2012, the Bank for International Settlements (BIS) reported that the forex market traded in excess of U.S. $4.9 trillion per day.)
One unique aspect of this international market is that there is no central marketplace for foreign exchange. Rather, currency trading is conducted electronically over-the-counter (OTC), which means that all transactions occur via computer networks between traders around the world, rather than on one centralized exchange. The market is open 24 hours a day, five and a half days a week, and currencies are traded worldwide in the major financial centers of London, New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris and Sydney across almost every time zone. This means that when the trading day in the U.S. ends, the forex market begins anew in Tokyo and Hong Kong. As such, the forex market can be extremely active any time of the day, with price quotes changing constantly.
Courtesy of investopedia.com

5. Market Players.
a. Major Banks
b. Commercial Entities
c. Central Banks
d. Retails (Brokers, Dealers, Funds)
e. Small Retailers

6. So that every segments will receive a different price from the spread or commission.
a. Major Banks
EBS System
Razor Thin Spread
b. Commercial Entities
Also identify as Commercial Banks
Platform as like Thompson Reuters, Bloomberg etc
c. Central Banks Via Major Banks for currency stability, FDI and so forth
d. Retail Players
Broker or dealers (Front Line) for Major Banks
Hedge Funds, Pension Funds
ECN
e. Small retailers
Meta, Java, Web Platforms
Using broker or Bank Platform depending on the capital whether it is a platform for broker market maker or platform for ECN

7. The different is the total sum of the fund itself. Major Banks, the fund spread is so small. However, for retail trader like you all the fund is small and spread is also small. It is impossible for Major Banks to use retail trader spread. Try to calculate USD100M order which the spread is 1.2 pips. How much it will be for EUR/USD?

8. As mentioned earlier in the FOREX definition the total volume changes all the time, but as of August 2012, the Bank for International Settlements (BIS) reported that the forex market traded in excess of U.S. $4.9 trillion per day. Which is mean it is the biggest among other markets that are available in the whole world. However, it have to be divided into 4 market segments.

9. FOREX market segments:
a. FX Spot Market
b. FX Futures
c. FX Options
d. ETFs
e. Swap, forward contract (this is the biggest, half of a daily transaction involving government, multinational corporations and banks)

10. From the market segment. Take for example you buy a house:
a. Spot Market
Buy a completed house at the developer office.
b. Futures
Buy a under construction house at developer office. Buy a house that will be completed in the future. The house price when it is completed might increase or decrease base on the current market price.
c. Options
Go to the developer office and pay the booking. When the house is completed options is available whether or not to take or let go the house base on the current market price.
d. ETF
Buy the developer company share. The developer company might have other business as well as like sell houses, oil, energy etc. When the share going up its profit and when the share goes down its a loss.
e. Swap.
United States government fix a one price and European government fix at one price. Initially, both parties have agreed on the price they fixed. Nevertheless, when the date to do the exchange the reevaluation is required. The revaluation will be done normally on every 3 months, 6 months and so forth.

11. Spot FX volume is USD1.5T. From this USD1.5T that is traded daily the most vital component is FX Futures.

12. Futures Market that are normally seen are US Index, Eurodollar, WTI, Brent, Copper etc. Perhaps you may heard about Commitment of Traders (COT) Report? That is actually Futures Market.

13. Futures Market comprises of a few segments. The top 5 vital segments to FX Market traders are
a. Currency Futures
b. Metals Futures
c. Commodities Futures
d. Equity Index Futures
e. Bond Futures

14. Well, its not necessary to understand Futures Market in detail. The basic is Futures market have 2 benefit for FX market traders:
a. Price Benchmark (Where the price heading)
b. Risk Hedging

15. Risk Hedging (Use to hedge the trade when there is a risk currency)
For instance:
European Zone: Europe Central Bank currently is applying a Quantitative Easing policy. The reason why is to increase the money supply in the market from the Bond auction and asset. When money supply increase, bank will easily give loan. As such, business can expand since loan is easy to be approved.
Hence, when the money supply is increase Euro currency will depreciated. However, traders/investors sees that business will expand, so they have to buy the share at European Zone exchanges. The issue here is when traders/investors want to buy the share they have to buy the depreciated Euro as well due to money supply situation mentioned. In that case, to prevent loss on Euro depreciation exchange rate that they will have to buy even though the stock (share) price is increase, traders/investors will enter (buy) Futures Market and short (sell) Eurodollar at Currency Futures Market simultaneously. Subsequently, what will actually happen is the pressure at Futures Market (Price Benchmark) will drag Euro Spot price (Eurodollar) to go down (depreciated). Which means (seller at Futures Market is increase, while Currency Futures price decrease). When the share reach their target, they will make profit in both markets (Share and Futures Eurodollar).

Note:
The main difference between currency futures and spot FX is when the trading price is determined and when the physical exchange of the currency pair takes place. With currency futures, the price is determined when the contract is signed and the currency pair is exchanged on the delivery date, which is usually some time in the distant future. In the spot FX, the price is also determined at the point of trade, but the physical exchange of the currency pair takes place right at the point of trade or within a short period of time thereafter. However, it is important to note that most participants in the futures markets are speculators who usually close out their positions before the date of settlement and, therefore, most contracts do not tend to last until the date of delivery.

16. How broker and Liquidity Provider (LP) get the price that the FX Spot Market traders is trading? The answer is Interbank Rate. Interbank Rate FX Spot Market price influenced by a few element:
a. Country Currency Policy
b. Economy Data
c. Currency Futures Price
d. Swift, Swap Rate etc
LP is the price provider as well as price receiver for any order that comes from a broker. Normally, its a forex department at larger banks.
Broker normally will subscribe to 2 or 3 or to a few LP depends on the broker capacity to maintain certain amount of deposit (margin) di LP.
Of course a broker will subscribe to more than 1 LP to get the best price quote. Price from different LP is varies. So that to remain competitive, broker will have to subscribe 2nd tier Interbank Rate from 2 to 3 LP minimum.
Whether the LP is maintaining the account or not it also depends on the type of broker. Broker is devided into 2:
a. ECN Broker Order enter Real Market (A Book)
b. Market Maker Order is within broker system only. (B Book)

17. Every type of broker have their own strength. For a retail trader the most important thing is to make sure deposit is easy, withdrawal will have no issue and the system provided by the broker is fluent.

18. There are 4 types of pillars that is a must to be mastered as a trader:
a. Fundamental Analysis
b. Technical Analysis
c. Risk Management
d. Trading Psychology

19. All these 4 pillars is vital equally, and without mastering all these we cannot be called as a trader (completely).

1st Pillar: FUNDAMENTAL ANALYSIS

1. Fundamental Analysis is basically the analysis to determine the economy via the Currency Policy set by the Central Bank (country or zone for Europe) and identify what is the market perception and how it will react towards the economy data influenced by the policy.

2. Basically, Fundamental Analysis is divided into 2:
a. Monetary Policy
b. Sentiment

3. Monetary Policy for a Central Bank is purposely to ensure that the country economy is operate at optimum level of inflation which is already been set and that the current job percentage level is at maximum.

4. Monetary Policy is divided into 2:
a. Expansionary (Easing)
b. Contractionary (Tightening)
Expansionary meaning is that the Central Bank want to stimulate the economy activity by encouraging business activity by not limiting the credit (decreasing the rate) and subsequently increase the job opportunity when the economy sector is expanding. This in return will increase the capacity of expenditure.
Contractionary meaning is that the Central Bank is intentionally want to slow down the inflation rate and control the economy by limiting the credit allowable (increasing the rate).

5. Basically, what is the Central Bank do is to control money supply within the economy. There are 4 method that is applied for this:
a. Interest Rate
b. Quantitative Easing
c. Tapering
d. Intervention

6. Interest Rate
This is the main weapon for a Central Bank
The interest rate will determine whether the loan given or earnings receive within the economy is expensive or vice versa.
Reaction: When increase, currency will be strong. When decrease currency will be weak.

7. Quantitative Easing (QE)
Basically, QE does mean that the Central Bank will print money electronically in order to buy bond
QE will increase money supply and that will entitle the bond owners to (government/banks/larger holdings) involve in more economy activity
Reaction: Money supply increase, currency will be weak
Central Bank have the capability to print the money electronically for QE. (Bank of Japan Y80 Trillion monthly).

8. Tapering
When a country economy have achieved the targeted inflation, GDP, employment, wage etc then it will have to go through the next process. Central bank will have to cut the total money allocation. This what is called Tapering. Where, the total of currency for QE might have to be cut gradually depends on the economy data.

9. Intervention
This is the most direct weapon for a Central Bank for currency. Central Bank will directly enter the market and buy the currency for the stability of the exchange value.
There are 2 Central Banks that is famous with Intervention which are Swiss National Bank (SNB) and Bank of Japan (BoJ).
SNB will normally intervene in the market when CHF become too expensive to their attention.
2 pairs that will be the target: EURCHF dan USDCHF

10. Sentiment is mood of the market. Assume that market is a person. Every time, this person will see various things around him/her within any circumstances. From 1 input, or a combination of a few inputs that this person receives these will creates a mood.

11. Inputs that are received by market comes from:
a. Economic release
b. Market Data (Price of Commodity, Bond, Share etc)
c. Fiscal Announcement
d. Politic
e. War
f. Natural Disaster
g. etc

12. Sentiment is divided into short term, medium term and long term depends on the market situation and data received by the market.

13. Sentiment can influence 1 currency, 2 to 3 currencies, or the whole market depends on the input (data). When there is data that is influenced by the market, market will react via the decreasing the risk or taking the risk. This is due to that the market is basically have 2 characteristics (greed and fear). When the market sentiment is positive, the emotion that is controlling the market is greed.

14. Greed Maximize the return (Risk On)
a. Purchasing of risk securities, Equity
b. Carry trade activity, purchasing of currency that is giving high yield (NZD, AUD)

15. Fear Activity is more towards securing the fund (Risk Aversion, Risk Off)
a. Purchasing of secured securities, Bond
b. Safe haven flows: Withdrawals of fund from risk securities and deposit into any currency that is believe stable on that current period
Note:
a. Yen: Many of Japan investor will investing outside their country at normal days. When the sentiment is Risk Off, the fund will be bring back to be deposited into the investor account in Japan.
b. CHF is seen as a stable since they are independence from the economy and they are also a 1st World Country.

16. All these data market as well as economy is analyze by the Central bank in order to determine the Monetary Policy that is suitable to be applied in the current or future time.

17. The basic is that:
Market Money Supply ↔ Inflation Rate
Monetary Policy and sentiment of the local as well as global market will influence the economy cycle of a country.

18. Economy Cycle or Business Cycle is divided into 4:
a. Expansion
b. Peak
c. Contraction
d. Trough

19. Conclusion: For Fundamental Analysis (Monetary Policy and Sentiment)

20. What we are going to see when we do the Fundamental Analysis as a speculator:
a. Ensure portfolio is safe
b. Maximize profit

21. So we will see now the:
a. Major Trend: Monetary Policy based on Economic Cycle
b. Mid Term Trend: Strong Sentimet
c. Short Term Trend: Current Sentiment
Step a & b might be influenced by the Risk On, Risk Off factor in the market.

22. So for session money flow, daily money flow etc. covered. That is why we have to do the Fundamental Analysis. As a matter of fact, Fundamental Analysis provide the information to determine where the trader/investor put on their money (which currency, which commodity, which market, which session). As such, decision to go long or short is suppose to be idealize at this point.

2nd Pillar: TECHNICAL ANALYSIS

1. Data movement from the price history and volume to see how the market/price is doing

2. Objective of Technical Analysis:
a. Identify the opportunity to enter the market at a preferable price level
b. Determine which level should enter and exit the market (stop loss and take profit level)
Note:
You might have your own Technical Analysis. Continue to use the current available system as long as it gives you a handsome profit to your portfolio

3. For me this is what I use:
a. D1
Moving Averages SMA50, SMA100 and SMA200 (Visualisation: D1 only)
Retracement Fibonacci at last complete wave (Visualisation: D1 & M15)
Candle Stick: Engulfing and Pin Bar (Visualisation D1 only)
b. H1
Support & Resistance (Visualisation: H1 & M15)
Trend Line (Visualisation H1 & M15)
c. M15
Daily Session Pivots (Visualisation M15 only)

4. 3 type of trading entry:
a. Scalping: Retracement Average Daily Range (ADR) at area confluence in between a minimum of 2-3 technical tools (M15)
b. Day Trade: Pullback Average Daily Range at area confluence (H1)
c. Position: Pullback into the band SMA50, SMA100 and SMA200 as well as CRS (D1)

5. However, my each single entry is not based on Technical Analysis solely. It is a combination of Fundamental and Technical Analysis

6. Analysis practice for each single entry:
a. Scalping: Current sentiment and Bank Order levels (www.forexlive.com)
b. Day Trade: Current Sentiment and Monetary Policy
c. Position: Major/Strong Sentiment and Monetary Policy

7. What actually I do want to emphasize here is that dont limit your trading to only 1 analysis. Fundamental Analysis solely or Technical Analysis solely. Fundamental Analysis does not mean to only see the news release at www.forexfactory.com. There are more. Same goes to the technical. There are more too. Combine these 2 analysis and find the opportunity to execute entry based on analysis made.

3rd Pillar: RISK MANAGEMENT

1. This is the most vital factor for trading. Almost all traders aware that risk management is so important when trading. The issue is how many of traders practice it during trading? This is the secret how to remain long and consistent in trading.

2. Below are the basic things for risk management:
a. Broker selection
Divided by:
i. Market Maker
ii. ECN
Whether or not the broker is Category A or B, retail trader should identify below points:
i. Regulated (Is broker regulated?)
ii. Track Record
iii. Spread and Commission
iv. Trade Execution (Fast No Lagging)
v. Deposit and Withdrawal (Easy No Issue)
Please do research prior selecting any broker
b. Account Type (Is suitable with capital)
Account is divided into 3 types:
i. Standard (Capital > USD 5,000)
1 lot = 100,000 unit
ii. Mini (Capital USD1,000 USD5,000)
1 lot = 10,000 unit
iii. Micro (Capital < USD1,000)
1 lot = 1,000 unit

3. Leverage (Selection)
Depends on the entry technique. If short term technique, use leveraged account, if medium term or long term technique, prevent from leverage.

4. Target Trading (Must be achievable)
Trader (Big Player) annual target percentage 15-30%.
It needs money to make money, forex is not a get rich quick scheme
For me I personally target 20% account growth for 1 month
Daily target is 1%.

5. A complete Entry Technique. When there is a price in, there should have price out. Exit if trade is found out wrong. Take profit if the price goes well as per analysis.
There list of example why setting SL and TP during entering the market can secure your portfolio.

6. Risk Reward
Enter base on daily range pair. If the pair just move to average 100 pips 1 day, enter pullback from daily high only at 30 pips pullback, dont enter TP target at 100 pips for day trade not Daily Range can reach that high.
Risk that should be taken (total of SL in USD) must be suitable to the fund reward. (Risk to reward ratio)
Beware of multi high OR multi low levels

7. Mastering trading knowledge
Understand what is trading is all about
Understand instrument traded

8. Plan AND review entry. Assume positions entered as a business deal. Must in depth understand every data that support the entry, price levels etc.
No technique that prone to gain loss. Many traders keep changing their technique when loss in market.
The thing is normally the traders him/herself who did wrong, not the technique. Read back the trade plan and review prior to decide to change the technique. Please be in mind that should trying a new technique is required please use a demo account definitely not the real account.
In trading the true perfect plan does not exist. Trader must have the ability to accept loss and manage loss in trading. Learn how to behave and ensure dont just because of a single loss this melancholia lead to the account lost.

4th Pillar: TRADING PSYCHOLOGY

1. One of the trading aspect that is most vital. Trading is a skill, it starts with learning and subsequently getting the correct detail understanding about trading, and next is completing technique. All these steps is require in order to get the strategy right.

2. There are 2 things that the trader should do:
a. Training
b. Psychological approach to perform
i. Psychology Training (Continuously)
Any trading firms as well as larger companies outside there oftenly organize psychology and motivation talk for their traders and workers
ii. A trader who have perform badly does not need to learn back a new trading skill, in fact, the thing the trader should do is to study back the trading psychology
iii. Trading is a skill, a trader must ensure to be in the optimum zone while trading
Same goes to sports, the skill must be always brushed up along with mindset as well as focus

3. Chief of Aim: TO DEVELOPE YOURSELF BECOME THE BEST TRADER

4. How to be a successful trader:
a. Understand yourself. (Type of trader, decisions and your discipline)
b. Enhance knowledge, risk management and mental. (As a trader to trade in optimum performance)
c. Mind Training
d. Emotional Behavior
e. How to adapt with loss and win in trading
f. Always improve yourself as well as trading skill

5. Keep your trading plan and trading journal. Review back on weekend. See the improvement as a trader.
This is the best method to develop discipline and improve skill as well as taking of the mind as a trader

6. Develop your habit as a trader. Make trading as something that you are interesting into doing it.

7. Understand individual motivation:
a. Why you trade?
b. What you want when trading?
c. What is your life/trading values? What is the vital point in life? In trading?
d. What is the current/short term/long term projection? 3 weeks? 3 months? 3 year? What kind of trader that you are aim to be?

8. Money might be the main factor. However, when you ask this to the successful trader, money is not the only factor.
External and internal motivation play its role. Self-motivation is the best of all because this type of motivation does not influence by external or internal factor. For instant money, recognition etc
To become the best trader it is not only to count from the profit made. In fact it count from the achievement in trading aspect as well.

9. Trading psychology:
a. Understand the trading achievement (skill, strategy, situation and yourself)
b. What is meant by good trading decision?
c. What is the factors that influence trading decisions?
d. Developing awareness
e. Actions: niche, process, trade plan/review and understand the your motivation

10. There is time where a trader must take a rest. Take sometimes to not trade at all.

11. In a nutshell:
a. Fundamental
Wheres the money flow, theres the fund go
b. Technical
Where the price level
c. Risk management
How much loss is accepted, how much profit projected
d. Trading psychology
Understand yourself, discipline

It going to be boring. However, whoever feels that they have passion in trading please try to at least finish this and explore more outside there.

Tips (Suggested Currencies Analysis Guideline):

1. Fundamental - You can try to do your analysis something like in the attachment. (Do your own version that is easy for you to refer)
2. Technical - Study more about Regression Line, Fibo Ret, Fibo Exp and you can use the pivot tmp setup i shared at least. (You can use yours as long as you achieve the objectives required)
3. Risk management - Determine the win to loss ration (Relate to Fibo Ret and Fibo Exp at least)
4. Psychology - Stick your plan (Plan your trade and trade your plan)

Shab19, Agree with you.

Interesting... On top of that... IMHO trading concept is almost equal to all market instruments available let it be Equity, Bonds, Forex, Commodity, Futures etc. The point is understands the underlying fundamental and you'll see your road to success safely. Whilst, the beautiful about Forex is that all markets instruments transaction involves in foreign exchange regardless in a small or large volume. So... I believe you got what I mean... To the extend... You can even trade gold with Forex if you really understand the correlations...

Have a Safe Trade

Cheers!

Great article for background information, but seriously do you need to know all that ?

Most, if not all, information is on the price charts already. Yes, new information will affect the chart, but the markets will always search for liquidity to
complete a transaction and that a trader should be able to locate on his/her chart.

Is the currency appreciating or depreciating against another ? Markets are all about perception. When everyone is Selling, who is buying ? and vice versa ?
Where are the key levels where markets react ? Analysis Paralysis is where too much information is heading.

I can understand why new traders can only handle one market at a time. When the Ocean is so large, we are fishing for only one kind of Fish ?

sorry but i dont agree. I dont know what pair and timeframe you posted but the OP have a full time job and i think here is the money: just as 1 example USDCAD 1 lot short

one pair two pairs or more is not the question, the question is finding one trade and concentrade on it and manage it, as just to jump around. Maybe one long term trade and 1 or two shorter term trades. The thing is you must find a trend or the chance of a big Reversal and at the moment there are no trends or they are to far in the move for to jump on the train so at the moment (this year!) i only look for reversals (i love reversals) at JPY crosses, EURGBP mid term for a few weeks, Gold and DAX? and thats it for me. If you can handle more than heads up
Why are you not successful?

Specialize in one market? Isn't it against Financial Wisdom? Finance always teaches us to diversify. Diversification is the route to success. Well, not quite. But it's better than put all your eggs in one basket. In case there is a big hole in the basket. Be careful with your eggs.

Let use an example with 3 currencies. This is the simplest case of diversification. Let take USD, EUR, and GBP.

We know EURGBP is either up or down. Let's trade EU and GU.

If EURGBP is up. That means EU is probably up. And GU is probably down. In the end, the risk is minimize.

It's better to use an Asian currency such as AUD or NZD. And a European Currency such as EUR or GBP.

The goal is : how to minimize risks and maximize profit.

Well, if that is the goal. There can be other goals, like maximizing profit regardless of any risks.

my view: for me its better to put all my eggs in one trade because with every new trade you take a new risk. When i risk 100 pips to get 1000 pips is it better than to risk 10 times 10 pips to get 20 or 50 pips. Furthermore is it a question of high probability
Diversification in Stocks because they can crash to Zero, okay but in currencies or indices? How many People bought Oil?? Easy Calculation: Zero never, Price 27$ my risk 0 to get 27$ if price goes to 54$ and if its move higher? where is the risk???? That Oil stays the next ten year below 27$?


and if you want to save your profits at the highs why not hedging and if the price goes further up you are BE out of the short hedge and make further Profit or selling the highs if you missed the entry at the lows, hedge the profit and set the short/long BE to make further profits. Its all a question of when to enter the market and can i manage this thing. 3 trade the same time is to much. The other good thing is, if you have longer term trades, than you dont have to make usually fast decisions. Its a little bit boring but stress free and way more money than swing trading or scalping (and i love scalping!) and if not more money in any case lower risk IMHO

sorry, i can´t follow your explanation. Concentrade on one trade in one pair doesn´t exclude that you look in other pairs or correlations to manage the trade. And what means up or down? Which TF? look at the picture in post 73 above, once in, you have minimized your risk more than if you trade for 20 or 100 pips in three pairs.

That's only an illustration of 3 currencies. It's well known in finance that the rule is diversification.

In case of oil. If you put all your trades in oil, then all the risk you take is in oil.

Whatever you do, just remember your goal.

Thank you!