idimitrov posted:
what's the point of trading so many currency pairs ?
More currency pairs means more opportunities to trade, if you can deal with the multitasking.
mlawson71 posted:idimitrov posted:
what's the point of trading so many currency pairs ?
More currency pairs means more opportunities to trade, if you can deal with the multitasking.
EA can deal with it
togr posted:mlawson71 posted:idimitrov posted:
what's the point of trading so many currency pairs ?
More currency pairs means more opportunities to trade, if you can deal with the multitasking.
EA can deal with it
True. It's just that I don't feel very comfortable using EAs.
mlawson71 posted:idimitrov posted:
what's the point of trading so many currency pairs ?
More currency pairs means more opportunities to trade, if you can deal with the multitasking.
It is great as profit counts in time while DD does not appear at same time on different pairs.
togr posted:mlawson71 posted:idimitrov posted:
what's the point of trading so many currency pairs ?
More currency pairs means more opportunities to trade, if you can deal with the multitasking.
It is great as profit counts in time while DD does not appear at same time on different pairs.
Sorry, what does 'DD' stand for?
@mlawson71 Draw down, I believe.
I used to trade many pairs (20+), down to 6 now due to spreads. The more exotic / crossed the pair, usually the higher the spread (broker dependent)... more opportunities to trade also can mean more trades open, so keep an eye on that... more trades = more swap & more margin... I'm taking it slow these days, mostly closing out orders instead of opening new ones... my margin level was getting far too low :-|
I have come to realize that there is no true multi-pair hedge, I have had ALL my open trades move against me at the same time with multi-pairs open... and that gets scary very quickly.
For every loss there should be at least an equal and opposite profit.
That is nothing to do with how many pairs you are open. Obviously you only trade the pairs/setups that look the best and comply with your risk reward ratio. Do you calculate your risk per trade before you place it according to your account balance? and I dont mean saying I want to risk 30 pips or whatever on the trade because every pair is different. You should be saying I will risk 0.5% or 1% on each trade. Use the free calculator here on myfxbook if you need it. Enter you account balance of say $10k, enter how much risk you want so say 1% and size of your stop loss on the trade say 50 pips, and it will tell you the position size to use so all you can lose is the 1% you set and never hit large drawdown. make sure you have a risk reward of a minimum of 2:1, higher if you can find it
GiftedFx
@chrish9070 'That is nothing to do with how many pairs you are open.' - Was that directed at my post? If so, please elaborate, I don't see how your reply on MM has anything to do with what I explained. Your risk increases proportionally to the amount of trades you open (if you use your method - 'each trade'), the correct, advised method is actually max 2% equity (not balance) for beginners and max 5% for experienced traders on ALL open positions, though I know of a few experienced traders that are pushing 10%. So it would make sense that if you found 10 trading opportunities on 20 pairs vs. 5 on 10 pairs, you effectively have increased your risk by 100% without the need to calculate anything based on your method.
Regardless, my point was that you open yourself up to entering more trades the more pairs you watch, thereby increasing your risk and lowering available margins... no use in seeing an explosive setup on a pair you know is going to make great moves and you have over extended your margins.
Regardless, my point was that you open yourself up to entering more trades the more pairs you watch, thereby increasing your risk and lowering available margins... no use in seeing an explosive setup on a pair you know is going to make great moves and you have over extended your margins.
For every loss there should be at least an equal and opposite profit.
You clearly arent a real trader if you are having problems with your 'margin'. That simply wont happen if you have your risk set properly to 0.5% to 1% per trade like any professional will do who manages funds and money. I know that because that is what I do for a living
GiftedFx
I do know real traders (and you are correct, I'm not a trader by profession - 99% of the people here aren't), and they undoubtedly say that it is in fact % equity on ALL positions, not per trade as so many online pundits have 'incorrectly' stated... which would make me suspicious of your claim to be a 'real' trader. I'm not here to argue with you, I'm simply explaining my experience and factual information as a 6 year retail Forex trader... as are most of us.
For every loss there should be at least an equal and opposite profit.
The 'real' traders I know don't trade through retail brokerages, they work at brokerages (still using Pepperstone?)... and your site is offline btw. may want to look into that. 🙄😁
For every loss there should be at least an equal and opposite profit.
They work for brokers that tells you all you need to know! My personal accounts are via Pepperstone and Ic markets. The fund accounts are traded via IC markets and deutsche bank And yes I know about the website, its been offline for a short time now due to my hosting company having some kind of error. And as for risk thats exactly what I said, you calculate risk per trade and you also have a maximum overall risk at anyone time.
GiftedFx
In my opinion, a 'real' trader is anyone who makes a profit consistently, regardless of where they do it.
chrish9070 posted:
You clearly arent a real trader if you are having problems with your 'margin'. That simply wont happen if you have your risk set properly to 0.5% to 1% per trade like any professional will do who manages funds and money. I know that because that is what I do for a living
If you trade as professional why dont you share such great results?
This user doesn't share any systems currently.
Dec 18 2020 at 13:14
I never try this. I always trade with 3 or 4 pairs at a time.
When choosing a currency pair, be sure to analyze its intraday activity. Some of them are traded only at specific times of the day.
Trading more than 15 currency pairs means, You probably do not have enough accuracy, and you want to enter a trade in any case.
But if you mean, monitoring more than 15 currency pairs To choose the best one atm, This is a calculated and accurate method
But if you mean, monitoring more than 15 currency pairs To choose the best one atm, This is a calculated and accurate method
Jan 15 2021 at 06:29
A real trader is the one who knows how to control emotions and make profitable trades in any kind of market situation. Being consistent is the real thing, not making big profits once and then losing every time.
Jan 15 2021 at 06:52
Isn't that bit difficult to do, considering that the accurate of the output might be reduced because of that?
Feb 01 2021 at 09:48
levithomas posted:I agree. Emotions should not be involved in trading because we tend to take risky decisions in the flow of emotions. It is difficult to accept the loss, but acceptance will help you move forward and correct the mistakes in your strategy.
A real trader is the one who knows how to control emotions and make profitable trades in any kind of market situation. Being consistent is the real thing, not making big profits once and then losing every time.
