Trading is affecting my life

Try keeping multiple positions open in a single currency and use a hedge. I’ll focus on the USD as my example. We are going to trade EURUSD, AUDUSD, and CADUSD... Now when the DXY looks like its turning bearish we’ll open up 3 positions:

  • EURUSD - LONG - 80:40
  • AUDUSD - LONG - 80:40
  • CADUSD - SHORT - 80:40

You should further refine this by watching the recent numbers out of the respective countries... for example if the recent numbers out of Canada look good but the numbers out of Australia look bad we would short the AUD instead of the CAD.

Once you’ve practiced with this strategy for a while you should always have at least one winner which may alleviate some of your negative emotions.

/r/Forex Thread