TygerKrane wrote:I have so many trading ideas now, it's not even funny.
Ok, well sure, there's probably nothing new under the sun in the forex world, but here goes.
¹) Find pairs that are highly correlated to GJ.
²) Trade those pairs as they bounce off the extreme (like after a 5- Candle Fractal). H4 and up.
³) Set your SL at that extreme, and set a corresponding reversal order on the GJ extreme [or something similar on the GJ] for a BO.
▪︎)The idea being to use the greater volatility of the GJ pair to attempt to recover anywhere from 50% - 100% of your loss from the other pair.
▪︎▪︎)And hell, if you have enough OPM to risk there being a false BO
on the GJ, let the thing ride then.
But my lower-stress preference/priority would be to just guarantee a recovery of most of that initial loss, while still attempting to trade the non-GBP pair off its' Weekly extreme (or Daily extreme).