They obviously don't move together all the time but the best trades occur when they do. One can often stifle the movement of the other i.e. a trade sets up on EJ but the EU is hitting support or resistance (a Big Round Number or Daily Pivot). Similarly one can sometimes give me a clue to exit...
I don't know if you guys who are just trading EUR-USD have considered switching to EUR-JPY but I am getting reams of good trades out of this pair (vs EUR-USD).
Per myfxbook I am up 115 pips on the the EUR-JPY and down -11 pips on the EUR-USD this month.
My broker (including commissions) is...
Chat room
I don't trade Volman's methods per se but I do end up taking similar trades. I trade 1 minute charts EUR/USD & EUR/JPY. I was wondering if there would be any demand for a live chat room, to discuss price action as it develops. Could be skype or browser based free room.
PM me if you...
Virtuesoft, I know youtrade a few pairs; I am interested to know whether you have different targets/ stop sizes for each?
I don't trade exactly Volman's methods and am experimenting with different stop sizes (but still fixed risk) based on the average candle size over the last 60 candles...
I was guilty of over-trading the past couple of trading days. Today I only took 2 trades and had 2 winners. When I start to over-trade my method of getting back on track is to say to myself in my mind that hypothetically I am only allowed to have one trade in the whole week so given all factors...
Has anyone tried any other method of stop loss/take profit with Volman's methods? A trailing stop behind the candle once the target of 10 is reached seems to have the potential to catch a few really big moves?
M
Absolutely agree.
If multiple trades are all setting up then focus on Euro.
For me if I have any doubt or hesitation about the trade then I know it is not right. The ones I take I genuinely have no doubts in my mind at all...
Edit: I would strongley advise against trading USD-JPY (but might...
Thanks Cha-ching. Yes, I have come across IC Markets but their commission is high at $7 per round trip fixed. I don't like the look of most of the brokers that top the fxbook.com feed. Anyway, conscious I am moving off topic...
M
Thanks. I trade LMAX and typically spreads and commssion are around 1 pip but sometimes up to 1.3 (I have seen others which are consistantly below 1 pip but am reluctant to switch).
I currenty trade Eur/Usd, Aud/Usd and now Eur/Jpy as well. I don't think this would be possible trading tick...