Anyone have a list of which forex pairs are unrelated. I just don't want to trade pairs that move in the same direction.
Well that's not quite true.. Many currencies have a high correlation. Meaning they move in a similar direction (but not necessarily with similar volume or price action). There are also negative correlating currencies that tend to move in opposite directions. However the correlation ratio is always changing.. You can find a currency correlation heat map at http://fxtrade.oanda.com/analysis/currency-correlation Using that information you can avoid trading pairs that cancel each other out and you can also partially hedge your positions to manage your risk.
Yeah....Hi! I am testing a new manual system (rather simple with three time tested indicators...nothing fancy) and I caught a little short move in AUD/USD with 1 lot. I am still in it with a 15 pip profit. I am trying entries on Oanda to see how it works. It's tough getting back into trading... I am a little rusty. Entries are real easy...its the exit that is hard. ElectricSavant