Which trade to enter when there's more than one opportunity at the same time?
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!
Mitglied seit Mar 17, 2021
536 Posts
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!
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
Mitglied seit Jul 23, 2020
759 Posts
Nov 09, 2021 at 12:06
Take both or go with which one gives you the most profit.
Mitglied seit Jul 23, 2020
869 Posts
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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