What do you think is the best way to deal with currency correlation as a Day Trader due to correlations between pairs changing so much. No one wants to unknowingly double their risk on two or three pairs that's correlated and ends up all hitting your stops because of correlation. Would you prefer to always check the currency correlation table every time before you add a second or third Intra-Day trade or is that too much to do?
Playing great defense over great offence.
Sep 17 2021 at 17:45
By the way, this is a very useful skill. If used correctly, the result can be quite interesting for a trader.
Sep 17 2021 at 17:50
It should be understood that to understand the correct use of this strategy, you need to have experience.
Sep 18 2021 at 07:06
You just have to interpret the forecasts correctly
Sep 19 2021 at 00:50
I think the correlation is a myth. Each currency moves at its own pace so no correlation is required.
Sep 21 2021 at 11:33
Currency correlation is definitely a thing. Some currency pairs are related in value and move together.
Nov 11 2021 at 13:05
Forex traders will use currency correlations to either hedge their trades, increase their risk or use it for creating value.
Nov 11 2021 at 14:19
78678676 posted:yes, but there are not many such pairs
Currency correlation is definitely a thing. Some currency pairs are related in value and move together.
Nov 11 2021 at 15:01
When actually placing a trade, consider whether the markets are currently correlated, whether one market leads another, and whether the price is diverging.
Nov 11 2021 at 15:02
When actually placing a trade, consider whether the markets are currently correlated, whether one market leads another, and whether the price is diverging.
LyudmilLukanov posted:I fully agree.
When actually placing a trade, consider whether the markets are currently correlated, whether one market leads another, and whether the price is diverging.
Playing great defense over great offence.
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