I’ve been trading forex for a while; the only pair I’m currently looking at is GBP/JPY. I’ve already passed an FTMO challenge with that pair, but lately I feel like it barely moves. I mainly trade during the London Session, and it just takes forever until something finally happens. Does it make sense to trade GJ during the New York Session? Or should I go look at other pairs?
It is just you, bro; I can confirm it.
Look at the charts during the other sessions and decide if they are better suited to your strategy. If you decide to change pairs, remember to spend time verifying that your strategy works the same with what you choose.
@Bliss
I don’t know if that helps, but my strategy is usually looking for a 4h or 1h FVG and then checking the internal price action there, waiting for manipulation and a displacement so I can know the next draw on liquidity.
If one pair isn’t working out for you, try another one.
Typically, have 2-3 pairs you look at so that you have a few trades that you can take.
I don’t know why you settled on GJ, but there are plenty of charts that you can backtest your strategy on.
And if your strategy works on 1 chart consistently, chances are it can work on a different pair as well.
Preston said:
@Joss
Is GJ a bad pair to trade? I have traded on EU as well before, but I don’t know…
I believe what pair you choose to trade will depend on how well your system works on it.
If you can find consistency with GJ, then who am I to tell you that the pair is bad?
Trading is subjective. You need to learn to trust in your analysis and then look towards consistency first before you even think about other things like faster trades and bigger moves.
Just remember to collect some data like how many pips your pair generally moves within a session to frame your TPs a bit better.
Try using ATR when finding pairs to trade. If your strategy is good with other pairs, ATR will show you the average pips of how much the pair moves in a given timeframe. Find a pair with high ATR and trade that if you are looking for volatility.