First of all, let's discuss the last issue brought up above. If price is beginning to retrace and we want to reduce our risk, should we close the smallest lot we have on, the newest one, perhaps taking a small loss, or the oldest one with the most ...

Multi-Lot Multi-Timeframe Position trading

I had a very interesting discussion in my Skype chatroom this morning. The gist of it is that it took me a lot longer than it should have to admit that I am not clairvoyant, at all. I can determine very accurately which direction price is moving at ...

Multi-Lot Multi-Timeframe Position trading

Not sure what trades you were in Bidforvol, but my CAD/JPY and UJ longs both made great gains during the Fed announcements, so hopefully yours did well too. I don't usually stand aside for news announcements as they seem to go in my favor more often ...

Multi-Lot Multi-Timeframe Position trading

Great question and discussion. I wish I had more time for it. Yes, it is just accounting between realized and unrealized profits, but there is another factor. To profit, you have to take profit sometime, turning unrealized profits into the real ...

Multi-Lot Multi-Timeframe Position trading

Wow! Quite a pop up in my CAD/JPY long. I hope some others got some of that. I made my profit target for the week and then some. Standing aside now for Fed speak and Scottish referendum. Be back later. Happy trading!

Multi-Lot Multi-Timeframe Position trading

Hi Malloc. I probably wrote that up wrong initially, or at least made it sound like it was an easy decision. It's always a conflict in the markets. in this case, taking the biggest profits off (the oldest and most profitable lot) when price starts ...

Multi-Lot Multi-Timeframe Position trading

Yes! Good Point. We have Fed Speak tomorrow and the Scottish vote on succession from the UK on Thursday. There is no need to take excessive risk. I'll probably take my most profitable lots off before those events, just letting a little ride through ...

Multi-Lot Multi-Timeframe Position trading

Cutting losses is hard, but nobody said this was going to be easy. Practice cutting losses short on every trade and you'll get better at it as you go along. Always trade with a stop loss but don't depend on any stop loss or magic indicator to cut ...

Multi-Lot Multi-Timeframe Position trading

This CAD/JPY trade is about 114 pips ahead total on three lots at the moment. Of course, every trade doesn't turn out as sweet as this one. Just prior to it I entered a UJ long and then manually exited at -21 pips when it went against me. Really ...

Multi-Lot Multi-Timeframe Position trading

It's easy to see that CAD is a very strong currency right now and JPY is a very weak one. One possibility for a good trade might be long CAD/JPY. Trading strong against weak. If we check the trending of each timeframe on CAD/JPY and use our two ...

Multi-Lot Multi-Timeframe Position trading

OK, so we will all cross our heart and swear to never take a large loss again. Let's look at some trading. This link leads you to a very simple currency strength chart: url This is a daily strength chart, updated every 24 hours. At this moment, it ...

Multi-Lot Multi-Timeframe Position trading

If there are no comments, questions or suggestions, I'll just ramble on. Above I talked about avoiding that one big loss that wipes out a pot full of hard earned pips. Everyone of us will have at least one of these, and most of us will have several. ...

Multi-Lot Multi-Timeframe Position trading

Let's stay off the beaten path a bit and talk about avoiding financial ruin. We've all heard the old maxim, "cut your losses short". After many years of trading, I still need to ask myself at least once a week, am I doing everything reasonable to ...

Multi-Lot Multi-Timeframe Position trading

Hi Landsat, I'm usually looking at longer time duration on the currency strength charts. Daily, H4, H1. I didn't long UChf because the dollar is a strong currency and the CHF is a strong currency. The CHF is so strong (high in value), it hurts Swiss ...

Multi-Lot Multi-Timeframe Position trading

A 4-lot trade long on USD/JPY. Each original SL was 120 pips, 2X Daily ATR. Stops now moved up to lock-in some profit. The RSI (10) is shown along the bottom and 5ema cross over the 10 sma are shown in Yellow and Aqua. image

Multi-Lot Multi-Timeframe Position trading

Seeing no comments, lets drill down a bit on improving our trading edge. Finding a trend is just the first step in this method. We've discussed it quite a bit, but if anyone has a problem with the definition of a trend, or finding one, lets look at ...

Multi-Lot Multi-Timeframe Position trading

Any other questions? Comments? Suggestions?

Multi-Lot Multi-Timeframe Position trading

I look at most combinations of Eur, aud, usd, gpb, jpy, chf, nzd and cad which gives me about 24 pairs total. I haven't followed the more exotic currencies because the information on them is more difficult to find. Any of the above combinations that ...

Multi-Lot Multi-Timeframe Position trading