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Forex Discussions
Trading Systems and Strategies
Price Action Swing Trading - The PAST Strategy
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[QUOTE="basilc, post: 49276, member: 25646"] [b]"So many options" or choices.[/b] Good day all, My thoughts on myknees' dilemma about which pairs to trade. If we follow PAST strategy implicitly we should be prepared to take several 20 pip hits in order to catch the ride to our intended profit target. With that in mind I decided to avoid the Minor pairs with spreads of more than 3 pips. Admittedly, by doing this, I'm probably missing out out on many potential trades but the upside is one's trading balance is not too severely punished before one eventually succeeds in catching a winning trade. Presently I'm +106 pips on NZDJPY after 6 attempts (120 pips) to catch the bus. And +29 pips on CADJPY after 4 failed attempts (80 pips). However, I'm -100 pips (5 failed attempts) on USDJPY and still not in the trade yet. Some time ago Nigel mentioned producing a video to help PAST traders hone their Entry skills and being possessed of a somewhat impulsive nature, that video cannot come soon enough for me! For what it's worth, I don't think Olu has missed the boat on shorting NZDJPY. My fibs extension for this pair indicates a possible fall to 68.00 which would be brilliant! Good luck with your trading and thanks for your active interest in this forum! [/QUOTE]
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