This is a Forex basket trading system. If you decide to trade long in an uptrend, you will need to execute trades on 14 other currency pairs simultaneously. This is not a hedging system when you go long, you need to trade all pairs in the same direction.
This trading method involves all pairs together according to overall market movement, to gain overall positive profits. It doesn’t matter if 3-4 pairs have losses.
Make sure your trading platform has the following currencies pairs:
There are 2 EA’s to assist you to place orders on all 14 pairs in seconds. All you need is to decide on is in which direction you want to trade.
Some brokers do not have the CADJPY, so u can substitute this pair with either the USDCAD, NZDUSD or NZDJPY instead.
In this system, you need to decide whether to go long or short by watching 4 different pairs i.e. the EURUSD, GBPUSD, USDJPY, and EURJPY.
I like to call these pairs my ‘indicator’ pairs. If 4 of these charts show a significant uptrend, you will go Long on all 14 pairs, and vice-versa for going Short. You will need Fibonacci + Daily/Weekly Pivot, Support and Resistance levels as a guideline.
Sometimes 3 out the 4 pairs you are monitoring will show a significant trend in one direction but one pair will not. When trading in a conservative manner, you will need to wait for all of them move in the same direction, then only can you enter trades.
OR, as an alternative, you can refer to other pairs like the AUDJPY or GBPJPY for confirmation. If they are also trending in the same direction then you can consider entering a trade.
OR, for a more aggressive approach, if you are familiar with the price movements or chart patterns on your chart, and you’re pretty sure that the 4th chart will finally follow the trend on the 3 stronger charts, you may then proceed to enter trades.
Just remember to always consider your risk management before getting into any trades.