Monday, February 21, 2011

A Simple Basket Trading Trick

Do you focus only on a single pair or do you have several pairs open before you?
I know some people (they're experts by the way) tell us to stick and focus only to a single pair, but check this picture out (and don't bother with my entry there :D):



Can you get the idea?
By watching several pairs we actually have the advantage, we have a more complete view on a certain currency. In the picture, we can see how the USD is.
Sure it doesn't mean that we will recklessly pull the trigger on every pair each time we see a similar condition on all the pairs, but, it will help us a great deal to make a better judgment and decision.
So everytime you're in doubt of a particular pair, check the other pairs (using the same TF and setup as your current pair) to get a better view, good luck :)

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