NAME 10 FX PAIRS...

Diver. i think jackozy was on about the call i made on usdjpy based on how i use my fibbs. Hopefully it saved him a few quid as he was about to go short on this pair, but what i posted may just have stopped him from doing so, i just warned him there was furthe highs to be reached.

As for the pairs trade, there is not a specific chart, just 10 pairs all boxed into a P+L trade. KI.

Ki,
Well it's trying b..... hard to break the support but, as yet, still holding. Now that's the kiss of death for sure
I notice Jackozy mentioned something about not liking the way you used fibs. I might have got that wrong so please don't go taking offence if I have but I don't recall seeing anything from you other than the progress reports you keep posting as to how many pips your trade has made. Which was the reason I posted the way I did the other day. Looks like I missed a post somewhere so please accept my apologies. IF you could enlighten me I would love to take a look and learn something. Thanks.

Opening before close of business on Friday !!!

I thought holding positions over the weekend in Forex was taboo

Mike-in-Paris wrote: Thanks for the reply Ki,

I'll have to give this a go next week and let you know my results.

Just a quick question; do you spend each weekend going through all the charts of the different majors working out which buy / sell position you are going to take or is it a quick decision Monday morning based on your indicators eg MACD, EMA's etc

And come tomorrow evening at 5pm will you have closed out all the trades as per your plan ?

Thanks

Mike

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Dont spend any time at the weekend looking at charts if i can help it. I either place the trades before the close on fri evening or if i am trading heavy money i will place the trades at the open on sunday evening, to save on overnight charges.

Closure can come at anytime after 7.00am on the monday morning, depends what your happy with as proffit, but normaly it will run for 2 days min. Although these are major pairs , i could change them to either minor or exotic pairs for a bit of volatility. KI.

Thanks for the reply Ki,

I'll have to give this a go next week and let you know my results.

Just a quick question; do you spend each weekend going through all the charts of the different majors working out which buy / sell position you are going to take or is it a quick decision Monday morning based on your indicators eg MACD, EMA's etc

And come tomorrow evening at 5pm will you have closed out all the trades as per your plan ?

Thanks

Mike

Mike-in-Paris wrote: Ki,
On your trading plan for this, are you completely hands off, or do you come back to a pair to move a SL to break even.... (for me that is too tempting to resist doing) or even having a TP if you are approaching a major resistance.
And you close everything Friday evening regardless ?
thanks
Mike

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Sorry Mike just noticed this post. Some good questions there mate. Firstly, with live trades i will look for a 75 point proffit before i move my S/L to zero. I always like to monitor this type of trade, however i always go in with my eyes wide open to any losses, so i can trade this quite calmly.

I have seen this sort of trade go into minus by 600 odd points and then reverse itself in the same week. Taking proffit is important, and if you get to say 500 points and you are happy, then take it. I tend to look at the charts of the 2 strongest and the 2 weakest performing pairs to get a view to there potential limmits, the rest falls into line.

If you notice the GBPUSD it is losing at the mo 73 points, now silly as it may seem i want it to go to my S/L which is 100points, because if that hits then my whole total will rise whilst the 100pt S/L approaches. KI.

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