Do you trade only GBPUSD?

I also think it’s better to focus one or a couple of currency pairs cause it could get a bit confusing sometimes. :stuck_out_tongue: You constantly have to check on all of their charts and that’s gonna be crazy. Huhu. Pro level. :stuck_out_tongue: For me, the system I’m using is mostly for EURUSD and GBPUSD so I trade those pairs. :slight_smile: But I browse through other pairs as well just to see how they’re doing. Haha. :blush:

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That is awesome guys!! :blush:

I am about to trade in a couple hours. How do you see the pair ?

I think it will go bearish during the beginnings of the session.

same here! I tell myself to only focus on one or two pairs each day, but I just can’t help to look at them all :joy: I’ll try harder to refrain from doing that lol!

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Hahahaha it could be hard, now I do it because I feel more comfortable

This is what happened with my trade today.

I use a risk reward ratio of 1:5

I went bearish and the pair did touch my SL.

I saw the charts again and I enter bullish , and when I was 10 pips winning I close my trade so I break even.

And then I saw the pair again and it had a strong bullish trend and I could have hit my TP of 50 pips. But I went out very early.

Has someone else had this experience as well?

I think my psychology was affected by my previous trade.

It’s amazing how we go through the same babypips steps in the FX.

I’m a fetus that can type :rofl::joy::nerd_face::stuck_out_tongue_winking_eye:…Im still on Demo focusing on GBPUSD, EURUSD and EURGBP and study other Majors paired with USD. Plus South Africa is the best place to trade those pairs.

I mean 00H00 in :statue_of_liberty: is 07H00 in SA…London opens at 10H00 in SA. :ok_hand:t5:

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I trade GBPUSD, you can expect it to be unruly until the “B” stuff is settled, But overall longer term if USD goes up it goes down if USD goes down it goes up.

I also tried the USD basket similarly. Which really makes a 10 pip move into a 30-50 pip move and so on.

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Sometimes I am trading on GBPUSD if the look on time good opportunity with higher volatility, but sometimes I combine with using GBPJPY to hedge trading, both pair usually has similar movement although not always, with buy and sell both pairs will minimize the risk, and important point is looking support resistance and pattern of the trend

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I don 't use stop loss. You lose more with this strategy. Just wait for the right moment to enter trade. The market will go against you but at the the and it will go back in profit. Don’t you ever enter too soon. With a little backtesting you will learn how to enter the market at the right time

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no way I can agree with not using any stop loss.
At a minimum a trader should have at least a safety net.

Yes! You’re doing the right thing. Focus on one pair, study it. It will be better than being sprayed on a lot of steam.

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you’re right about that! my mentor takes his trades at literally the perfect time. Literally like maybe a min after he places the trade, it ends up in profit. I’m getting better at it every day, just have to stick with my trading plan/rules

I’m uk based - been focusing on Cable since early 2009, it’s a great pair to trade, for my own personal reason of course :wink:

Wait until you’re up or down $5k on a trade - that’s when you really understand psychology :joy:

:rofl::rofl::rofl:It freaks me out just in a Demo Account

rather than just GBPUSD trade the entire USD cross backet, what the DXY and take say 4 pairs in trade two trades each and earn 50 pips! at very low risk, Trend following just a bit.
Oh generally USD/XXX goes with a DXY and XXX/DXY goes against the DXY, and sameo for SDD Gold & Silver Just saying

Good to see that you are on the right path. A lot of trading products, it take time to study all of them as the one time. I traded a lof of currencies until I found that no need to trade a lof of currencies. Just trade only your favorite not more than 3-5 currencies.

Studying one currency a time and learning the characteristics of it is definitely not a bad thing!

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My GBPUSD Chart this morning, it was an easy day for them geen pips and the “V” pattern is my fav. Lately with all the Brexit stuff the GBP has been mostly running opposite the DXY.

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Trading 1 pair is a great way to learn price action and concentrate on mastering a pair.

Personally though I trade any pairs which hit my criteria.