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the Correlation Code
forexrobotrading.com/forex-correlation-code-review/
Forex correlation is used to describe the relationship between currency pairs. It is a quantitative measure of how currency pairs in the forex market reacts or moves in relation to other currency pairs.
forexcorrelationcodereview.net
Correlations range from 1 to 0 to -1. A correlation of 1 means the two currency pairs move in the same direction nearly all of the time. A correlation of 0 means there is no correlation between the currency pairs and they move independently of one another. And, a correlation of -1 is when one currency pair moves up, the other pair moves down.
Why is this so important?
Well, if you can learn to recognize correlated pairs, you can identify high probability moves which you can use to place winning trades. These trades are gold as they tip the scale in your favor because they are based on the strong fundamentals behind correlations. By using these universal market fundamentals, you are trading smart as you are using a consistent, predictable model from which to trade.
As you can see, correlation trading is powerful as traders can predict volatility. But…there is more to maximizing profits than just knowing when a move is about to occur.
Correlation by itself does not help you determine exact trades to place for entry and exits.
the Correlation Code
forexrobotrading.com/forex-correlation-code-review/
Forex correlation is used to describe the relationship between currency pairs. It is a quantitative measure of how currency pairs in the forex market reacts or moves in relation to other currency pairs.
forexcorrelationcodereview.net
Correlations range from 1 to 0 to -1. A correlation of 1 means the two currency pairs move in the same direction nearly all of the time. A correlation of 0 means there is no correlation between the currency pairs and they move independently of one another. And, a correlation of -1 is when one currency pair moves up, the other pair moves down.
Why is this so important?
Well, if you can learn to recognize correlated pairs, you can identify high probability moves which you can use to place winning trades. These trades are gold as they tip the scale in your favor because they are based on the strong fundamentals behind correlations. By using these universal market fundamentals, you are trading smart as you are using a consistent, predictable model from which to trade.
As you can see, correlation trading is powerful as traders can predict volatility. But…there is more to maximizing profits than just knowing when a move is about to occur.
Correlation by itself does not help you determine exact trades to place for entry and exits.