Hi Folks,
Just a reminder about todays webinar its free to register and join me.
Starts at 11 GMT today.
See you all in there
Phil
Trade Setups
Tips & general help to make you a better trader by Phil Newton, Developer of Trading Strategies at TradingStrategies.infoSubscribe
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Next webinar
Using Fibonacci ratios to manage your trades efficiently
by Sunil Mangwani
November 23, 10:00 GMT
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Hi Phil, I have a question.
If several pairs form an overnight range in the same night, and suposing that most of them behave the same, I mean they all break in a similar way and direction, under which criteria do you select one or another?. Do you trade just one?, or do you trade all?.
Thenaks so much in advanced?
Carlos
HI There, Thanks for your question. The simple answer is that if its on my watch list and meets the criteria I trade it, no questions.
If the number of pairs that you can or could trade due to your account funding is the problem then only look at 2-3 cross rates and dont worry about what is happening on the other pairs.
For a while I specialised in just 2 cross rates with occasional ventures on to other pairs but in the whole I just looked at a few cross rates at first and expanded the number of pairs when my account size grew.