8400 level held again overnight with a nice, nearly one cent loss. Still looking to scalp shorts to see if it will breach 8279, and then your upward trend line
8279 was breached and we are still heading south. What's rather impressive, tho, is the selloff in EU as well. That's not as commodity driven as AU, UC, NU and the equities are not down that much either. Still, just playing short scalps with a careful stop exit. I know I am leaving money on the table*, but it woks for me. *hindsight is such a great tool
any1 thought on cable being given pretty hard? especially vivs-a-vis EUR? wasnt there a pretty nice correlation between GBP and DOW, oil? thanks
had a great 'basket' win from yesterday night until now...new 'basket' I am trading...here are the 'loaves'... GBP/NZD EUR/NZD USD/CHF EUR/CHF USD/CAD EUR/CAD USD/JPY EUR/JPY *looking for more of an 'automated' type strategy *one which offers profit and a 'natural hedge' *profit's made via exposing obvious divergences ...this is very interesting...very...
they key to winning forex basket trading is really...patience...let your basket of crosses run...they will turn positive as divergences are exposed...this is great!
For me, Forex Basket Trading, is one of the secret hidden gems of Forex trading: *trade off of strong divergences *have somewhat of a 'natural hedge' (my opinion) *profit should come...just let 'it ride' and 'wait' (my opinion) Here are the current 'loaves' in my "Forex Trading Basket": GBP/JPY EUR/JPY GBP/NZD EUR/NZD GBP/CHF EUR/CHF GBP/CAD EUR/CAD GBP/USD EUR/USD (DISCLAIMER: DO NOT TRADE OFF OF THIS IDEA...DO YOUR OWN DUE DILIGENCE) (I cannot tell you which crosses I have open positions in or whether long or short in them...thanks!)
Without divulging the exact method that you use (not expecting a trading system, which you probably worked hard on, for free) can you just explain for the newb the idea behind "basket" trading and how it works?