Managing Winning Yen Trade
Hi, yesterday, Thursday 3rd December we saw all round $USA weakness versus the majors today.
Major highs and lows have been broken which may be a theme in the run-up to Christmas.
I show in the short video how correlation works and why you need to be very careful taking more than one correlated trade at a time.
The Euro/$, Gbp, Aud, Nzd are all breaking higher and the Chf & Cad lower in perfect correlation. So a long on one of the first 4 is the same, so if you take 2 halve the risk.
If not if one loses they all lose. It can of course work in your favour, but Murphys law mostly works against me 🙁
I also talked about the same subject in this weeks live training session and the Gbp/$ trade that got closed out yesterday and the $/Yen I am still in today.
I have again taken some profit (scaled out) moved the stop and am now aiming for a bigger target, risk free. All explained in todays short video below:
https://www.forexmentorpro.com/blog/live-fx-plans-correlation-fake-outs-crypto-buys/
Managing Winning Yen Trade
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