Fxtraveller wrote:LOOKING AT THE WRONG THINGS = looking at a curency pair independent of the price action of all the other curency pairs.
Trading with one eye = concentrating on the indicators and price action of a given curency pair while ignoring the movement between the other curency pairs as a whole.
wait, so........ are u actually saying that to trade GBP/JPY you should also look at GBP/USD, GBP/EUR, etc..... ?
isnt that comparing apples to oranges? and what difference does it make watching multiple currency pairs if you scalp? in-out, 10 seconds, 5 pips?
NO. It is NOT.
If you are trading GBP/JPY short and the rest of the Yen pairs are dropping, what do you think is going to happen? And/Or the rest of the GBP pairs are rising?
Do you always get 5 pips in 10 seconds?
This is TRADING - ANYTHING CAN HAPPEN!!
Best to SEE what IS happening around you.
Don't you look BOTH WAYS BEFORE YOU CROSS THE STREET?