Londonderry United Kingdom
Experience: Intermediate
Platform: ctrader - Ninjatrader
Trading: Forex
Posts: 9 since Sep 2013
Thanks Given: 6
Thanks Received: 3
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Hi guys,
I trade off 4hr charts looking for swing trades that I can hold for days hopefully (if the psychological need for banking profits don't spoil it :-0) I'm hoping to start a journal to get some feedback about my ideas etc but that's for later.
I trade Forex so I can MM the correct position size. I'm still on demo but getting close to starting a micro FX account to feel the psychological changes a live albeit small account/risk will expose. I'm really trying to let the trades alone and let them runners run, "trying" being the optimal word.
To my question:
At present I am looking at 25 FX pairs and since all FX pairs are correlated to some extent so there will be overlay what would be the best selection of FX pairs to monitor so I can reduce my number. For example today trades on gbpjpy will be heading the same general direction of usd/jpy, nzd/jpy and eur/jpy etc. I would be grateful if someone who understands un-correlated pairs better than me could purge my list so I am not doubling up. Perhaps the best of the USD, ChF and JPY's would be a start etc. I'll trim and cut as I go along but it would be great if someone has already working this out as a strating point for me and I can ride along on their shirt-tails......
At present I'm monitoring: eurusd, audusd, gbpusd, usdchf, usdcad, usdjpy, nzdusd, gbyjpy, eurjpy, audjpy, eurgbp, eurchf, gbpchf, audchf, audcad, gbpcad, nzdjpy, gbpaud, nzdcad, eurnzd, euraud, eurcad, gbpnzd, audnzd, cadchf.
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