This is particularly so when trading forex. Because currencies are priced in pairs, no single pair trades completely independent of the others. Myfxbook is a free website and is supported by ads. IgnoredI mostly figure out a long-term trend. I post what my levels are each day using an indicator that only changes signal on each daily OPEN. I have it mostly automated, but there is a small amount of discretion. Basically I figure out where to SHORT or LONG if the NEWS can push the prices to my EXPENSIVE (short) or VALUE (long) areas.I post this each morning.
For example, currencies tend to retrace against their main trend at the end of the week. These are human related patterns which are highly accurate.Jason Fielder has created another set of his own strategies based on the correlation of major currency pairs.One simple example is GBPUSD and EURUSD move in tandem.The Correlation Code trading system contains 8 of Jason personal endorsed trading strategies that exploits the correlation characteristics of currency pairs.Jason has revealed one of his correlation strategy for free at his homepage.
PromotionsExclusive promotions and general forex promotions. Industry Leading Affiliate System and RatesOur suite of powerful affiliate tools is available to every registered member to refer other traders up to 3 tiers deep and earn up to 17.5% commission while providing advanced tracking and analytics on client and traffic flow. Currency Pair CorrelationsIt is useful to know that some currencies tend to move in the same direction while others move in the opposite direction.
For those who forex factory correlation trading 60 to trade more than one currency pair, this knowledge can be used to test strategies on correlated pairs, to avoid overexposure, to double profitable positions, to diversify risks, and to hedge.In the financial world, correlation is the staMr. I will still be around but going to be contributing less to ff. We will see if it becomes.Thread: Mr.
We changed Sterling to neutral back in December via inflation kicking in.