Hi there!
I've tried several approaches in the past with mixed success and want to create a journal here with a more or less automated method called grid trading. This is nothing new, absolutely not but it works if the leverage stays low.
Basically I will trade an unidirectional grid where I have a direction where I think the currencies will move to and trade in that direction only by placing buy orders above the current level in case of a long bias and sell orders below in case of a short bias.
I will start with $1,000, my order sizes will be 1/10 of my account balance using tps of 25 pips and a grid of 20 pips spacing.
Start will be tomorrow, bias and traded pairs for now:
AUD/JPY: long
EUR/CHF: long
GBP/CHF: long
USD/CHF: long
USD/JPY: long
See ya tomorrow guys!
I've tried several approaches in the past with mixed success and want to create a journal here with a more or less automated method called grid trading. This is nothing new, absolutely not but it works if the leverage stays low.
Basically I will trade an unidirectional grid where I have a direction where I think the currencies will move to and trade in that direction only by placing buy orders above the current level in case of a long bias and sell orders below in case of a short bias.
I will start with $1,000, my order sizes will be 1/10 of my account balance using tps of 25 pips and a grid of 20 pips spacing.
Start will be tomorrow, bias and traded pairs for now:
AUD/JPY: long
EUR/CHF: long
GBP/CHF: long
USD/CHF: long
USD/JPY: long
See ya tomorrow guys!
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