EUR/USD & GBP/USD & AUD/USD Forex Trading

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?
 
Quote from davidmaria1:

I was filled long at .8276.
That dive down was ominous, to say the least.
More...

Closed it manually at .8346.
Fios guy is coming this a.m., probably maybe.
 
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