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!
Thursday, May 14, 2015
New Correlation Trade EUR/USD & GBP/USD
*Position Update: As of 05/15/2015 @ 7:41 EST The Global Currency Scalper liquidated both sides of this correlation trade with a profit of 28.6 Pips.
As of 05/14/2015 @ 12:03 EST:
The Trade: Long EUR/USD & Short GBP/USD
The correlation between these two pairs is 96% over the past year. The widest the spread has got over that time is about 700 Pips. Over the past 18 months we saw the spread widen to approximately 800 Pips. Currently these two pairs are 700 Pips apart.
With that said we will be entering 1/2 our intended position size with the intentions of easing into the second half if the spread widens significantly. We expect to see this spread narrow over the coming days/weeks. If it happens before we can put our entire position on we will feel comfortable closing out the position with a profit of any amount.
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