Thanks for a great thread and keeping it up. If I have this right, your only taking the pairs in one direction at the set time. Eur/Usd short, Gbp/Usd long etc.?
Actually, there could be trades that overlap in different pairs depending on how slow (or quick) price action is moving. For instance, the 7am EUR/USD short trade goes from 7am-11am CST, but the 9:30am GBP/USD long trade is from 9:30am-6:30pm CST. These two trades have the potential to overlap with the result being both a long and short order in simultaneously.
However, we will never hedge with any of these trades…they will always be in one direction or another in any single pair.
Hi
I was just wondering, I see your trades range between 10-30 pips on each trade. Do you personally use the same method in your own trading? I am just interested in how different traders make their profits, because with yours it seems that you win at least 90% of the time, so I’m guessing it doesn’t really matter that the number of pips is small, since you are almost certain of them, which means you can trade with a high balance?
Yes, these are a part of my trading portfolio, but the size/length of the trade depends on the type of trade. Often, time-based trades offer a short window of opportunity (hence the trades on this thread) while other trades may extended much longer than a few hours or even the day that the trade was entered. The key is to use multiple trades to create a strong trading portfolio and let your money management handle the rest
So your system only shorts EUR/USD and never a long if I have it right. And the same with GBP/USD you only go long on that pair never short? The more I’m looking at this the more I’m liking it, thanks for sharing. Have a great weekend.
Based on the trades that are listed on this thread, that is correct. That doesn’t mean that there are no long EUR/USD or short GBP/USD opportunities, it simply means that during the US session, there are aren’t many time/price action combination trades that prove to be statistically biased in one direction or another.