MoneyTec.com Traders Community Forum - View Single Post - Benefits to Specializing in Trading a Single Currency?

trawlerdude · 25-01-2003, 11:54

I appreciate your "hijacking" this thread. This is what our forum is all about. This is an issue that, rather or not we all know it, needs discussion.

I do not feel as though I qualify to give advice on FOREX trading at this point. I hope I did not put anything in my profile that suggests that I do.

I trade the 4 majors only. Rarely, (don't think ever) do I take a position on all four at one time. I enter a trade based on my entry criteria. I will take a position on any of the four when this criteria is met. I have found that when one makes a move, it effects the orderly process of the other and the pattern will be disturbed. Recently, I have been testing a strategy that trades all 4 majors at once.

If I get an ideal set-up on one, I take a position in all 4 based on them moving together. It is fairly successful. The thing that bothers me is that I really don't have a good feeling about some of the positions technically or fundamentally when I enter the trade. Recently by example the $/yen has been difficult.

For instance,

Good set-up for EUR/$ - Long
Then trade

GBP/$ - Long
$/Yen - Short
$/CHF - Short

Basic, but I just wondered how many others trade this way.

Thanks to everyone on this thread, GOOD INFO for us all.

LETS KEEP IT GOING.

25-01-2003, 11:54	#9 (permalink)
trawlerdude level 2 Join Date: Dec 2002 Posts: 111 Rep Power: 0	daanacker I appreciate your "hijacking" this thread. This is what our forum is all about. This is an issue that, rather or not we all know it, needs discussion. I do not feel as though I qualify to give advice on FOREX trading at this point. I hope I did not put anything in my profile that suggests that I do. I trade the 4 majors only. Rarely, (don't think ever) do I take a position on all four at one time. I enter a trade based on my entry criteria. I will take a position on any of the four when this criteria is met. I have found that when one makes a move, it effects the orderly process of the other and the pattern will be disturbed. Recently, I have been testing a strategy that trades all 4 majors at once. If I get an ideal set-up on one, I take a position in all 4 based on them moving together. It is fairly successful. The thing that bothers me is that I really don't have a good feeling about some of the positions technically or fundamentally when I enter the trade. Recently by example the $/yen has been difficult. For instance, Good set-up for EUR/$ - Long Then trade GBP/$ - Long $/Yen - Short $/CHF - Short Basic, but I just wondered how many others trade this way. Thanks to everyone on this thread, GOOD INFO for us all. LETS KEEP IT GOING.