Chickenspicy wrote: Wed Jun 14, 2023 3:26 am Man, that's tough, how is Eurgbp your favorite?
There are like 5 countries that make up euro
Its so interconnected id be confused

Haha, I was waiting for someone to ask me why .

It is my favorite pair because it is the most boring pair to trade. Now, this is a very good thing for the following reasons:

1) Its daily ADR is respectable - between 40 and 60 pips

2) Yet, Its monthly weekly range is ONLY 1 to 2 times its daily ADR. Now this is the important part. There is not much volatility and it's going to be moving in a beautiful smooth up-and-down pattern throughout the week! So I buy myself a ticket for the EURGBP rollercoaster (a small and gentle one though ) and I ride it up and down for the week. No fear of crazy spikes, volatility, and the stuff associated with high volatility pairs

ITS WEEKLY RANGE IS ONLY 85 -115 PIPS!!!

So my target per trade is going to be 30 - 50 pips and all I do is increase the risk percentage to increase my profit (which will determine the lot size). So taking 2 -3 trades each time I will be making between 60-100 pips per day times 5 = 300 - 500 pips per week on only 1 pair

Taking just a 1 lot size (max) for the whole week (2 - 3 trades per day (12 total) at 0.08 - 0.1 each x 5 days = 1 lot size) = $3000 to $5000 per week!!! No stress baby Oops, I think I miscalculated on this :-) It should be $300 to $500. The calculation below is if each trade has a lot size of 1. My bad.

You don't have to be making those 100+ pip trades. They are great when we get them and I do trade pairs that move like that, GBPUSD. But like the Tortoise and the Hare, slow is boring and beautiful! EURGBP is my Tortoise

Trading is challenging enough don't make it harder by trying to trade a million and 1 pairs. I've been there and it's NOT good. You become so distracted you start to lose trades, miss trades, and make stupid decisions!

Warmest regards,
BeatlemaniaSA

Oops, I think I miss calculated on this ...