Simple and profitable trading style

If the daily can strongly close above the upper band it would be second trade setup. The first setup was based on stochastic

Is this the end of EURGBP sideways? The weekly closed below the middle band while the daily strongly closed below lower band.

I was already long. I will be hedging my position. This is done by placing a sell stop order right at the SL price. No need to panic.

Adjusting position is part of the trading games. I have to adjust what I intend to do with EURGBP. I will be closing my long position and go short immediately when market opens

If price has reached a trigger point, why waiting and holding to the previous wrong position

EURJPY also formed similar short trade movement. How far will they obey?????

As I always say, using the above the weekly bearish candle that combined to make the trade setup is safer. The weekly, though wider SL, will prove that the position is wrong when triggered.

The two pairs have been trending for so long now. Then they showed exhaustion/sideways movement before the trade setup

But I must say here that EURGBP would probably move better because of Brexit. A day earlier than 30th March, 29th March, Britain finally triggered Article 50 of Lisbon treaty. This makes the EU to start the formal negotiation for British Exit from the EU. The negotiation will last for about two years before Britain finally leaves the EU.

Apart from having great setup I feel we should be very selective, considering swap. Sometimes we enter good setup only to be trapped in a ranging/sideways

When it ends in sideways, when we buy the currency of lower interest rate, negative swap will continue to increase. The higher the lot size the higher our swap

I continue to learn in this unforgiven environment, called Forex. When I finally go live I will more often skip buying currency of lower interest rate. I enjoyed NZDJPY long position

EURGBP swap would be ok, when the long position finally come through

It's better to make all possible mistakes in Demo account than in live account. Loose all possible amount in your Demo and reign in pips in your first and subsequent live account

Already EG short; time will tell how am right/wrong

Just checking what the monthly was up to on EURGBP. November was strongly bearish.

It was formed right around 0.90 resistance

I would like to ask a question.

Which timeframe are you using?

What is your BB set up?

Hi 9jatrader, I like to know 2 things. Firstly, is there any link through which I can monitor your performance or check the regular trades? Also, which pair do you prefer the most? I rarely trade on stuff like EURGBP, so hard to really think about changing it. Anyhow, I will be really interested in hearing more about it… Thanks

If you follow the thread from the beginning you would know that I trade daily, weekly and the monthly time frames. I take position on the daily setup, using the weekly to monitor. I also said that this strategy can be used on the 4hr, for those who can sit on their computer.
BB settings is 8,3,3. Does BB settings really matter? I don't know. I just install the way I met in MT4 without changing anything