How to deal with Currency Correlation for Day Traders
Sep 17, 2021 at 14:30
543 Visa
6 Replies
Sep 17, 2021 at 14:30
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.
Medlem sedan Jul 19, 2020
788 inlägg
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.
Medlem sedan Oct 16, 2020
137 inlägg
Sep 21, 2021 at 11:33
Currency correlation is definitely a thing. Some currency pairs are related in value and move together.
Medlem sedan Jul 23, 2020
759 inlägg
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.
Medlem sedan Jul 23, 2020
869 inlägg
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.
Medlem sedan Jul 23, 2020
869 inlägg
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.
Nov 12, 2021 at 06:48
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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