Do currency strenght meters improve your trading ? have you used them and doyou consider that they give you better trading results for short term and trend trading ? Thank you
- #2
- Last Post: May 17, 2014 10:48am May 17, 2014 10:48am
Do currency strength meters improve your trading ? have you used them and do you consider that they give you better trading results for short term and trend trading ? Thank you
Multi currency strength meters which show the major 28 currency pairs I find are the best as they improve my short term trading considerably usually on 1 hour charts. They include things like DPR daily pip ranges, DPP daily potential profit estimates, currency directions, lets me know the best pairs to go for and when they are best to trade or not to trade.
The basic free currency strength meters whether desktop, custom indicator, or online I find are a waste of my time as they normally only give you the 8 major currencies, so its up to to determine which currency pairs have the biggest daily pip range/potential profits, that's before you can even decide to go long or short.
I find that trend trading restricts the profit potential as it gets you in and out of a trade too late. All the best. d4ved
