Which trade to enter when there's more than one opportunity at the same time?

JacoAF

會員從Jun 14, 2013開始 127帖子

Dec 14, 2017 at 13:49

會員從Jun 14, 2013開始 127帖子

I always find it useful to do a Currency Strength Analysis before I look for trade setups. Basically you compare a base currency, i.e. AUD, against the other currencies and then open the charts where the base currency is strongest, and look for trade setups in favor of the base currency. For example right now the AUD is very strong against the NZD and GBP.

Here's a link that will help you quickly find String vs Weak currency pairs:

https://www.oanda.com/forex-trading/analysis/currency-heatmap

Good luck!

Keep it simple, be disciplined, get rich slowly and above all protect your equity!

SteveHanks

會員從Mar 17, 2021開始 494帖子

Sep 04, 2021 at 08:19

會員從Mar 17, 2021開始 494帖子

JacoAF posted:
I always find it useful to do a Currency Strength Analysis before I look for trade setups. Basically you compare a base currency, i.e. AUD, against the other currencies and then open the charts where the base currency is strongest, and look for trade setups in favor of the base currency. For example right now the AUD is very strong against the NZD and GBP.

Here's a link that will help you quickly find String vs Weak currency pairs:

https://www.oanda.com/forex-trading/analysis/currency-heatmap

Good luck!

Thank you for sharing.

Akasuki

會員從Mar 28, 2021開始 586帖子

Sep 06, 2021 at 09:57

會員從Mar 28, 2021開始 586帖子

You or shouldn't take all the trading opportunities at the same time. You have to take decision which one to enter..By entering too many trades, you are risking more money.

reece22

會員從Sep 22, 2018開始 67帖子

Sep 06, 2021 at 19:54

會員從Sep 22, 2018開始 67帖子

mcsuperb posted:
Hi Trader,

Just wondering how you decide which trade to enter when there are several opportunities?

Do you check the correlation and pick the one with the strongest trend?

Do you use correlation at all to make sure not to trade two highly correlated pairs at the same time?[/quote

Get a trading plan

Armada777

會員從Sep 29, 2021開始 16帖子

Sep 29, 2021 at 09:39

會員從Sep 29, 2021開始 16帖子

I think that according to me compare to mt5 and mt4 is not hard and easy to use for any kinds of trader even beginners. what do you think about ?

KAWASAKI -> Let the good time roll

UweMoench

會員從Jul 19, 2020開始 749帖子

Oct 03, 2021 at 12:22

會員從Jul 19, 2020開始 749帖子

You strategy and trading plans will tell you which trade you should take. There should be a risk percentage. We can't go above that. Enter one that's is more promising.

SofieAndreasen

會員從Jul 23, 2020開始 696帖子

Nov 09, 2021 at 12:06

會員從Jul 23, 2020開始 696帖子

Take both or go with which one gives you the most profit.

LyudmilLukanov

會員從Jul 23, 2020開始 816帖子

Nov 11, 2021 at 11:40

會員從Jul 23, 2020開始 816帖子

If you are confident take both. If don’t, just go with whichever you are confident more.

EURUSD	1.13608	GBPUSD	1.33914	AUDUSD	0.6399
USDJPY	142.487	USDCAD	1.38374	USDCHF	0.82408

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Which trade to enter when there's more than one opportunity at the same time?