Which trade to enter when there's more than one opportunity at the same time?
Medlem sedan Jun 14, 2013
130 inlägg
Dec 14, 2017 at 13:49
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!
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!
Medlem sedan Mar 17, 2021
536 inlägg
Sep 04, 2021 at 08:19
JacoAF posted:Thank you for sharing.
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!
Medlem sedan Mar 28, 2021
617 inlägg
Sep 06, 2021 at 09:57
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.
Sep 06, 2021 at 19:54
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
Medlem sedan Jul 19, 2020
751 inlägg
Oct 03, 2021 at 12:22
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.
Medlem sedan Jul 23, 2020
759 inlägg
Nov 09, 2021 at 12:06
Take both or go with which one gives you the most profit.
Medlem sedan Jul 23, 2020
869 inlägg
Nov 11, 2021 at 11:40
If you are confident take both. If don’t, just go with whichever you are confident more.
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