the same signal apears on 3 currencies. if they are correlated they will behave the same so at 2% risk either you are up 6% or down 6%. what solutions did you find to this problem?
let me ad up on the methods i am thinking about.
i use l-correlation indicator from here http://codebase.mql4.com/3797 and myfxbook correlations from here
http://www.myfxbook.com/forex-market/correlation
i trade h4.
i have several problems with the indicator. i don't know exactly how to use it because each setting changes the results a lot. and it seems also that the indicator and myfxbook give 2 different results. let's say that i'm going to use myfxbook from what level of correlation the risk of 2 trades having the same result is very low?
should i use <50% correlation or <70% correlation as an indicator?
let me ad up on the methods i am thinking about.
i use l-correlation indicator from here http://codebase.mql4.com/3797 and myfxbook correlations from here
http://www.myfxbook.com/forex-market/correlation
i trade h4.
i have several problems with the indicator. i don't know exactly how to use it because each setting changes the results a lot. and it seems also that the indicator and myfxbook give 2 different results. let's say that i'm going to use myfxbook from what level of correlation the risk of 2 trades having the same result is very low?
should i use <50% correlation or <70% correlation as an indicator?
