Dubai, UAE
Posts: 2 since Sep 2019
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Hello
I have start trading Forex from more than 5 year, initially I was trading any pairs available on platform, but I found that lowering the traded pair will reduce my potential risk, so from last year my trading limited to the following pairs: EURUSD, GBPUSD, GBPJPY, USDJPY, USDCAD, GOLD.
after that I got a glow about the correlation of currency and how they tending in the same direction, like if EURUSD up trend you can expect a same direction on GOLD, but the problem is that if I went long on EURUSD and took a look at GOLD and got a weakness sign from GOLD then my thinking will be as following I'm longing EURUSD but the GOLD is weak and it maybe went down so longing EURUSD is mistake and I have to close my trade.
After I get into future trading and institutional trading most of professional trader that I have met they informed me they used to trade just 1 or 2 pair to avoid and correlation conflict and to concentrate on small amount of pairs.
Right now I decided to reduce my trading to 2 or 3 pairs but they should be not correlated, how can you help me to solve this problem?
Sorry for pour English, hope you understood me well.
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