[Charlotte Anambra Nigeria]

This is what I suggest on GBPCHF

[Belgrade Bobby]

Hi Blessing, welcome 😀

Thank you Robinson on your kind words – but…where is your homework mate ??

 

[Blessing Ejiofor]

Hello

[Robinson Izuchukwu]

We are here

[Robinson Izuchukwu]

I’m here to appreciate you bobby for this journey, I’ve learnt another secret of trendline drawing and it’s perfect for me, it’s nice teaching from you, thanks for your time and help🙏🙏

[Alan nomadic]

Yep too many Gurus out there…none of them survive as long as Jays Global View.So talking of flows, perfect example today of the relationship between Cable, Euro and EURGBP.
EURGBP dropping hard Cable rising, EURUSD static. Also look at the other GBP crosses GBP/Commodity crosses to see how GBP is being bid across the board.
But see EURAUD also rising hard, so we very weak AUD. Then glance to USDCAD and see that rising, so we have weakness across the Comm FX pairs. Its all connected.

[Belgrade Bobby]

Sitting and thinking here Alan – we have started this club to try and bring back that camaraderie that was common in trading rooms and dealing desks all over, and to exchange ideas and different views on the market.

Also, important part of it is our little school that I wanted to push forward for quite some time.

We are not Gurus , nor influencers of any kind, but real traders with real knowledge and experiences.

I would like to see a good flow of ideas exchange here, both from experienced ones and newbie’s.

If questions are not asked, answers will never see the light of the day 😀

I am very glad to see that our breed is still out there , and that none of us is alone !

[Alan nomadic]

Thanks Bobby, yes so many ways to play it….And hard to do it totally alone…sometimes the sound of your own wheels drives you crazy (;-)

[Belgrade Bobby]

And that was one full explanation Alan 😀

We all have really different methods in trading , but the preparation, analysis and triggers are common  – that cannot be avoided.

Just this early Europe, I did two trades on EURUSD , but I have someone trading with me as well – although a young blood , but promising one.

As I was nagging about grass growing, he went with GBPUSD – exactly same strategy, same trigger – and same result at the end J

That is all different ball game – it’s a team play….

[Alan nomadic]

Thank you Jay & Bobby, I hope my question, and answer helps others as that was the main point of it.Bobby is right that you need to know the pair you are trading, but I have done this for 20 years now and my Wife has more than that…so we cover many markets between us and monitor different methods, multiple strategies and communicate across the desk like in a firm. It is the only way we can stay competitive in this business.
We trade like Jay said, kind of old school some would say, see what is moving, instantly spot what that means about where the flows are, be aware of the day/week of the month regarding Options and key scheduled news, figure out if the flows are going to continue into the next session i.e. will europe to NY continue direction after a pullback or will NY reverse the direction.
If there is surprise geopolitical news or comments and the market moves quickly, you have to know if the move should be faded (usually if its just a comment and the move goes against the flow as it can be creating an opportunity to add even though they make it look like a reversal) and you have to be aware of multiple time frames, especially you have to know where the DXY is trading, where we are in Futures regarding time of month/quarter/year and also what are Bonds doing…oh and what have been the ranges this month, are they nearing their average or do they need a good move to complete their monthly move which can then be faded.
Putting all this together means we were able to jump into USDCAD Long and Short for 40 pips on Friday in what was a very small range day in Euro.Basically you have to love the game, right?Like just now, im writng this…wife says “check gold, im scalp long @2400”), I glance at it, see its at a level of interest and jump in, best signal service there is! (one of many trades so if it doesnt work out its ok, especially as we dont do much before NY session on Mondays, sometimes nothing until after London Fix (Fix is also something you need to be aware, Time of Day…)
Thank you Jay and Bobby for creating this place, I hope you get as much interest as it deserves.
CheersAlan

[GVI Forex]

Let me add my thoughts.

Whereas I agree with specializing in one or two currencies where I differ is that you need to look at the full spectrum. What I mean is I look at

What currency is trading strongest

What currency is trading weakest

Whether two currencies are moving in opposite directions, which tells me there are real money cross flows driving these currencies.

This tells me what currencies I should be looking at in addition to what I specialize in.

I have a program called The Amazing Trader that can identify patterns no matter what the market condition. Now, to be clear, I am just relating what I use although it is available to club members at half price as a benefit of membership.

My intention is not to promote this program but to show how I use it to indicate if there is momentum (i.e. action) in any currency or instrument to trade.

What I do is look for patterns as seen in this EURUSD (5 minute) chart on whatever time frame I am focusing on.

When I see rising red (or falling blue) what I refer to as ladder lines, it tells me after a deeper dive that I should either be trading long or short in the direction of the lines.

There is a clear strategy that I will share with club members but the takeaway is this program works in any instrument that your broker offers on an MT4 platform, in all time frames and in all market conditions.

So Alan, one way to trade in lower volatility markets is to identify where the action is and trade what the market is trading.

[Belgrade Bobby]

Alan, your question is very interesting one .

I am going to give you how I treat this issue – so not an opinion or guide !

Being a midsummer and all, it is not uncommon to watch market behaving like grass growing…

In my strategy there are only four  options :

–          I prepare myself for longer waits and much longer hours in front of the screen

–          I accept smaller profits ( like half of usual)

–          I go with the smaller time frames

–          I join the crowd and go to the beach

But I never go looking for some other pair/instrument.

To be able to achieve continuous profits, you have to live and breathe the instrument you want to trade.

Trying to get right some other pair that you find currently moving can bite you back.

Now i am not saying it is not possible to switch within pairs, but for that to be profitable you must have previously done homework, clear strategy, fixed R/R and Risk management , and that is not really possible to do seriously ad hoc.

There are significant differences between different pairs – from the spread, size of bars on any given time frame , all the way to possible slide both ways…so very difficult to apply exactly the same rules to different instruments.

They can also react on Data even opposite , but at least sometimes muted sometimes exaggerated.

In reality, you would need at least a week to prepare another pair strategy, until the move will be already done…and in the mean time your primary pair might just move again…

So I gave honestly how I deal with it – if you have any other ideas, please share it here with us…we might get to some other solutions.

[Alan nomadic]

Question – Product selection

In these times of low FX volatility, especially in the majors (EURUSD the main culprit) the system one uses is not as important as what products one focuses on.

Generally this is the problem many traders struggle with the most in the current environment. Knowing how to hunt is one thing, but knowing where the action will be is the first step, where do you hunt can be more important than what weapon you use.

Can you say something about how you choose which pair to focus on? Do you check the news calendar ie on Friday there was CAD news and USDCAD gave some opportunities long and short.
Thanks

[Belgrade Bobby]

Yes exactly Jay – we are both playing with predicting tops and bottoms, but for a different reasons.

[GVI Forex]

Let me add that my program identifies potential tops or bottoms but not to follow them blindly. It will al be explained.

[Belgrade Bobby]

When it comes to the bottom line of every trade, Jay and me have identical stance : Go with the Flow – Always keep in mind the Overall Direction , and never try to pick up tops and bottoms.

In reality, even if right ( in picking tops and/or bottoms) , market can be so erratic on these exact levels, that they will pick up your stop easily , unless you go with way too big stop…

You should all watch closely both of us , as we complement each other.

Also, you’ll learn that some expressions that we both use for certain occurrences  are sometimes totally different  and that we see them very different.

But at the end we do come to the same conclusions.

Like Patterns – Formations : you all probably came across different examples and explanations ( like Head and Shoulder and similar) , but we both have highly developed systems with very much different “patterns” as we see them , and they are all way beyond widely known stuff you might find around.

For me, for example all the levels that you’ll see me posting are not possible entry levels – they are there for me just to get an idea of the size of the playing field, but the real Trigger is a combination of several factors…we’ll learn that as well.

For Jay , levels that he gets can be Triggers for the trade.

So almost opposite, but at the end of the day we just might take the very same trade, with maybe couple of pips of difference….

[GVI Forex]

I would like to add is that we all learn by our members posting their trading ideas, charts, etc or asking questions.

In this way we can all benefit and we can make sure we are on the same page.

Remember, this ia a private setting and any question, no matterhow simple or complex, is worth asking.

If yoiu want to contribute in real time, yiou can also post on the Forex Forum.

[GVI Forex]

Bobby and I take a different approach to trading, mine is more focused on levels and the patterns they form. What we have in common is that we both look to identify the side to trade and one that should put the odds in your favor.

Bobby, please confirm.

[Salazar United Kingdom]

Thanks! I see it makes a lot of sense. I can see now how this would involve a lot of risk and is just gambling to go one way. Thank you for the detailed explanation Bobby

[Belgrade Bobby]

Salazar – It is technically correct.

But, as you know how we trade – strictly Directional – that would be like stepping in front of the speeding train.

There are two possible scenarios and both trades can be wrong in reality :

–          Buy with a small stop

–          Sell on the break of Support line

Problem comes from the fact that market tends to slide a bit when working on bigger time frames.

You need two consecutive Closings to be sure – and your stop is long gone, even if you are fully right.

Now there is another problem – again, technically we should see at least a decent correction to the upside ( so Buying for a controlled profit target is sound strategy ) , but if this is a start of a bigger trend developing , we might see another Leg down , without more than some sideways correction.

Now the right approach would be to wait and see if we break bellow trend line, attempt to come back up and if failed go Short following the directional signal ( so one of the Patterns)

[Author]

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