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I think I have a pretty good idea for a correlation indicator (using another correlation indicator) but not knowing anything about arrays I don't think I am capable of doing the actual coding. If someone is interested I'll post the details here.
Trading multiple currencies. Need help on corellated pairs.
So far I have been trading only one currency, and being rather successful recently I decided to try a few others. But I ran into a problem. May be those who have good experience of trading multiple currencies simultaneously can help me out.
Say, I have a signal to sell EurJpy (does not matter what system gives me the signal, say it is just a MA cross). But I can also see that GbpJpy (or/and AudJpy) is resting on a strong support and its stance is not for sell off, it is still rather in a bullish mood. Well, if normally they would move in the same direction, should I be carefull with taking my EJ sell signal, or simply ignore the corellated pair and go sell?
You see, I am trying to keep it simple but this corellation thing brings a new dimension into the decision making process and I am confused.
So, having contradictory signals on normally well corellated pairs: ignore or not ignore? How do you treat it?
I use all the currency pairs I am supplied by my broker house.And I don't care what the others are doing.I just use my system to trade them and I don't find others things as many things affect the pairs and we have not the power to judge all the things really.
So I think it is better to think every pairs individually and I do so when I trade many pairs.
I use all the currency pairs I am supplied by my broker house.And I don't care what the others are doing.I just use my system to trade them and I don't find others things as many things affect the pairs and we have not the power to judge all the things really.
So I think it is better to think every pairs individually and I do so when I trade many pairs.
Well, it is hard psychologically for me to see two almost identical charts and ignore that one is getting over a mid-term MA and gives a buy signal, and the other is still under it (like EJ and GJ last American session, 15 min chart, 30-40 MA as current trend indicator). In the end EJ pulled GJ down I guess.
But yes, we will not trade at all if try to take everything into account.
Linear Mode
