TRO.
DO you have an Indi that shows the overall direction of one currency.?
For example taking the movement of EUR/USD, EUR/GBP, EUR/CHF EUR/JPY, can you see the over all direction of the EURO. ?
This will be really helpful.
THANX
JUAN
2009.05.16 WHY 95% OF TRADERS FAIL - PART II
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- TheRumpledOne
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"DO you have an Indi that shows the overall direction of one currency.? "
http://articles.mql4.com/484
http://articles.mql4.com/484
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
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"You can be AWARE of what multiple pairs are doing and AT THE SAME TIME, be focused on your ONE PAIR on ONE CHART.
If you see all of the JPY pairs heading in the SAME DIRECTION, which way will you enter the trade? With or against the JPY?"
Fair enough, but then I wouldnt agree to anything less than the indicator that you wrote for that
If you see all of the JPY pairs heading in the SAME DIRECTION, which way will you enter the trade? With or against the JPY?"
Fair enough, but then I wouldnt agree to anything less than the indicator that you wrote for that
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IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
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Yes this is a good point TRO. I remember I was in a paid chatroom service for forex and there were people there who were looking at the GOLD chart while trading EUR\USD. This part can be really tricky. I am yet to figure out how people look at other currencies to make decisions.
Which one would be first?? If we were look at the GBP crosses, which pair would be the first one to look at and trade on the other?
Which one would be first?? If we were look at the GBP crosses, which pair would be the first one to look at and trade on the other?
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