Tradinggrouptw

HOW TO DOUBLE YOUR PROFITS IN ALMOST ANY TRADE ! (CORRELATION)

FX:EURUSD   Euro Fx/U.S. Dollar
997 5 14
Hi all,
I hope you are all having a great holiday ! :)

- One way to double your profits in almost any trade is to add the sister pair(s) into your portfolio.
If you spot a high probability trade setup on EUR/USD             , the scenario is most likely to occur on its sister pair USD/CHF             , but in this example the inverse is true as they are in anti-correlation. However this can also ruin your bankroll if you don't know what you are doing as this acts as a double edged sword, so proceed with caution if you are new to forex .

Here is a great heat map that you can use to spot strong correlation and anti-correlation: http://fxtrade.oanda.com/analysis/currency-correlation.

How to use the heat map?
Simply choose the symbol of the pair you are looking to trade and historical correlation data will come up on all pairs.
- If you press EUR/USD             , you will see that USD/CHF             is strongly blue all throughout the timeframes, this means that they are in strong anti-correlation. The opposite is true if the colour is strongly red, example : USD/JPY             and CAD/JPY             .

Good Luck !
- And let me know if you have any questions.


www.TradingWhales.com

This is really usefull. Thank you very much and happy holidays!
+2 Reply
Tradinggrouptw DiamondRaven
2 years ago
Happy Holidays ! :D
+1 Reply
ForexDreams
2 years ago
Double your profits and double your risk! :)
+1 Reply
Interesting tip. Isn´t this basically the same as doubling up on your position in EU and in so doing, doubling your traderisk? Since you don’t really get 2 independent chances to win or lose a trade here; you get only 1 due to the very strong negative correlation. How does this relate to your money management rules? Happy new year!
Reply
Tradinggrouptw JasperForex
2 years ago
yes that is correct. In regards to MMR its hard to say as I actively manage all my positions.
Reply
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