[QUOTE=“Amanfx;612062”]Thank you Nikita… I would have had my SL below candle marked number 1… Anyway, I can’t make sense of any of the pairs after the way they all closed… EJ is at a very interesting level along with a H4 PB… but don’t feel like taking the trade based off huge bear candle and it being Friday… Only other pair that seems ok to me is UCAD… provided it rotates a bit lower and then forms a PA signal to go long.[/QUOTE]
I like the way u think Aman.
I miss alot of good trades too.
Its important to filter out and only take the ones we see for sure.
Helps bring balance and clarity, not to mention save capital on guess trading.
Is it better to follow pay close attention to one currency pair, or go through a list of them daily?
What are your views, and why?
I was told to pick a pair and stick with it, back in the early days.
Never did.
These days I have favorites.
Usually not more than two pairs.
Which pair I follow closely depends on what I see on MTF and WTF.
Example, Im following AU closely for the last three weeks because I could see an up move from the weekly. So thats the first pair I open every day and its the pair I spend most screen time with.
Previously it was GU. i saw an up move on the monthly and it served me well.
That does not mean I dont look at other pairs.
i go through them every day, especially Mondays and the begining of the month.
Thats how I choose whats the special on the menu for the week or the month.
Yes Nikita I do the same.
I write down my analysis end of everyday of the 10 pairs I watch. Then I write down in caps NO TRADE against the pair that is not clear to me.
I have also been watching AU for a few weeks but this pair seems to be shooting higher either without a signal or without reaching the level.
I am learning patience. I know for sure that market pays for staying disciplined.
For me I look almost every single pair. But as you said according to the WTF and MTF. For a long time I was only stick with the major but when I tried the method on demo with different pairs I realise that every pair is tradeable
But only problem is the big spread with croos currency, but not a big problem, recently I tried different pairs in real account and it serves me well. I think experienced trader advice to stick with the major beacause of volatality and less noice.
If anyone follow the method properly and open the position in the view of last week, month and daily majority time trader will be in profit.
As you said on your post “only think matters is valid setup” it does not matter what pair you trade.
Now I try to open 1 or 2 trade a week which one let me open position with less SL and R:R at least 1:2.
Been in this trade for a while now… took initial profit(too early) before the day ended.
Will let this run… Still learning how to let the trades run longer. Not too good at it yet…
[QUOTE=“Amanfx;613999”]Been in this trade for a while now… took initial profit(too early) before the day ended. Will let this run… Still learning how to let the trades run longer. Not too good at it yet… <img src=“301 Moved Permanently”/>[/QUOTE]
Alright, here is a third attempt on GU. I am long
I always move my SL to BE once the trade is above 20 pips… both times the market took me out at BE.
Now, I am in again with SL to BE again…
Then I ask myself, If I am going to enter again anyway, why move SL to BE … ???
Any suggestions??
It all depends on you, there are many traders that take 2 trades in order to do what you do. When they go up lets say the 20 pips, they will close one and bring the other to break even. This way they will bag at list 20 pips and let the other one ride.
You out on good time. We will see what hapen this week.
Burn my hand few times to open trade on last day of the month especially friday and monday. I just open the position because price was exactly on the spot I would like to see can not stop so open with minimum lots.