Quoting permanentjaunDislikedWhats the point in doing that? If they trade so similar to one another why not just trade gbp/usd in both time frames? It wouldn't make a difference since they trade so similar to one another. You may be trading gbp/usd and eur/usd, but really you're just trading one currency since they trade so similar. IN your definition then gbp/usd could be two pairs itself. The gbp/usd in the morning is different from the gbp/usd at noon. It's still just gbp/usd, but the signals have changed.
If you trade uncorrelated pairs then it makes a difference because at almost any point in time you could get signals different from correlated pairs. eur/usd will almost always give you a buy signal when gbp/usd would. There is no divergence. So when gbp/usd is ranging, most likely eur/usd is as well. That can be bad. I think it is better to look at uncorrelated pairs so you're experiencing your prime market conditions more consistently than all of your pairs giving you profit or loss. Your account will be much more volitile and experience larger drawdown. MattIgnored
In my system (PipBoxer) the majority of EURUSD breakouts at 6:00 am result in losses while GBPUSD shows the same problem at night. This means that I can't get the same results if I initiate a trade on both pairs at the same time.
Interestingly the only time that generates the most successful trades is the ones I mentioned above. So now it makes sense to trade both pairs because their time of entry is different.