We are Global Currency Scalpers, bringing you one of our three successful trading strategies. Centered on scalping of the Forex market. We realize that 65% of Forex traders lose money, some estimate it's as high as 90% of Forex traders lose money. At Global Currency Scalper we run three very successful and time proven trading strategies. This blog is intended to bring you one of those strategies with live Scalping updates. Don't be one of the Forex markets statistics!
Sunday, May 3, 2015
New Correlation Between USD/SGD & USD/JPY
*Position Update: As of 05/03/2015 @ 23:23 EST The Global Currency Scalper closed its correlation trade with a profit of 27 Pips.
As of 05/03/2015 @ 19:39 EST:
The trade: Long USD/SGD and Short USD/JPY.
The Global Currency Scalper will be initiating a position in a correlation trade between USD/SGD & USD/JPY. As you can see the correlation has widened to approximately 500 Pips but over the past year we have seen these pairs spread as wide as 650 Pips. With that said we will slowly build into our position, initiating 50% of our ultimate size. If the spread continues to widen this will give us an opportunity to lower our cost basis. If the current width of the spread happens to become the max over the next few days or weeks we will still participate by having our 50% position.
Trading a correlation strategy greatly reduces any directional risk one takes when taking a normal long or short position. Over the past year this pair has an 93% correlation which gives us great odds of having a profitable trade. Proper money management combined with solid odds gives you staying power in the trading business.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment