Hi I am a bit of an amateur i.e. I follow the graphs but do not understand how to use candlestick charts etc. I use Alpari to trade currency pairs and do ok at present. I am self taught and trying to learn all the time.
I have a question and I hope this is ok here as I felt the section will have the people best able to answer it.
I noticed with some pairs that they reflect each other, i.e. when one pair is travelling up on the graph another pair will be very closely coping this movement in the opposite direction, i.e. like mirror images.
Can anybody tell how you would best trade this to make a gain?
Obviously I would trade long on one and short on the other and if I get it right I would do quite nicely but at the same time if I got it wrong I would do quite badly, so is there a way to trade this a bit more successfully?
It seems to me that you have an advantage when this happens but I don’t know how to take advantage, and 2 straight opposite trades could just as easily go bad or good. Can anybody help me here?
Please go easy on the terminology and explanation, as I say I am amateur, trying to learn.
Any help/info appreciated.
I have a question and I hope this is ok here as I felt the section will have the people best able to answer it.
I noticed with some pairs that they reflect each other, i.e. when one pair is travelling up on the graph another pair will be very closely coping this movement in the opposite direction, i.e. like mirror images.
Can anybody tell how you would best trade this to make a gain?
Obviously I would trade long on one and short on the other and if I get it right I would do quite nicely but at the same time if I got it wrong I would do quite badly, so is there a way to trade this a bit more successfully?
It seems to me that you have an advantage when this happens but I don’t know how to take advantage, and 2 straight opposite trades could just as easily go bad or good. Can anybody help me here?
Please go easy on the terminology and explanation, as I say I am amateur, trying to learn.
Any help/info appreciated.
