How to trade the EUR now

Quote from SimpleTrades:

I scalp other opportunities when I can. A few USD/CAD. A few shorter term EUR/USD. I think it is a mistake to simple stick to one strategy. You can have a main strategy, and then grab other opportunies as they present themselves. However, the other opportunies are restricted by the state of the main trade. Obviously, if it is way against me, I don't have the available margin to take another trade. So, I sit and wait.
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For example, right now, after such a big move, I am tempted to go long USD/CAD.
 
Quote from SimpleTrades:

I scalp other opportunities when I can. A few USD/CAD. A few shorter term EUR/USD. I think it is a mistake to simple stick to one strategy. You can have a main strategy, and then grab other opportunies as they present themselves. However, the other opportunies are restricted by the state of the main trade. Obviously, if it is way against me, I don't have the available margin to take another trade. So, I sit and wait.
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Yes but you only have so much margin as you limit your account to the margin for risk on the one trade per this strategy from what I gathered.

So say if it is against you and not by what you consider much, and you pull out a USD/CAD trade which also goes against you then it's ruin.
 
Quote from contra:

Yes but you only have so much margin as you limit your account to the margin for risk on the one trade per this strategy from what I gathered.

So say if it is against you and not by what you consider much, and you pull out a USD/CAD trade which also goes against you then it's ruin.
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Yes, but the account is only a small fraction of what I have available to trade. So, it isn't real ruin. The trades simply exit, and then I'll add to the account again.

Because, I have the ability to reload the account, my belief is that I can transfer far more out of the account in won trades to the margin, than I will ever lose on reloads. If I'm wrong, so be it. :D

Now, if I didn't transfer the money out after I accumulate 100 pips or more of wins, than yes, it would be suicide.
 
Quote from SimpleTrades:

Yes, but the account is only a small fraction of what I have available to trade. So, it isn't real ruin. The trades simply exit, and then I'll add to the account again.

Because, I have the ability to reload the account, my belief is that I can transfer far more out of the account in won trades to the margin, than I will ever lose on reloads. If I'm wrong, so be it. :D

Now, if I didn't transfer the money out after I accumulate 100 pips or more of wins, than yes, it would be suicide.
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edit... and your hit rate on each trade has been 100%?
 
Quote from contra:

Yes but you only have so much margin as you limit your account to the margin for risk on the one trade per this strategy from what I gathered.
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My main trade allows for the margin requirement plus 600 pips of loss. That means there is at best 600 pips of breathing room to place other trades. However, you can see that if the EURUSD goes 210 pips (approx) against me, I no longer have sufficient margin to place another trade, given that the margin requirement is about 390 pips at current price.
 
Quote from contra:

and your win/loss ratio is 100%?
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Yes, no losing trades since I opened the account in March. A fantastic run. I know it won't last!

Edit: Yes to your edited question.
 
I mean as far as the strategy, it's basically on the fly there is no set R:R after you throw on other trades with only enough margin for the 600 pip loss on EUR/USD. You're also not sticking to 100 pip TP's.
 
Quote from contra:

I mean as far as the strategy, it's basically on the fly there is no set R:R after you throw on other trades with only enough margin for the 600 pip loss on EUR/USD. You're also not sticking to 100 pip TP's.
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I would have to admit my exit on a profit is on the fly. Because of the EURUSD range, I am not comfortable waiting for a profit of more 100 pips. There have also been a number of occasions when news comes out and it is very obvious the trade is about to go against me, I get out. Also, if I have more time to trade, I tend to trade more, entering and exiting more often. However, there is always that primary trade that can sit there for weeks if need be.
 
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