Forex Correlating Movement

Below is a very nice email we recieved from one of our course members the other day….

Hello Kris & Sid,

Observed, but no trade today. I came close to entering right around 3:30am the pound started pushing down and there was a little correlation, it just didn’t seem like there was enough for me so I didn’t trade.

I ended up going through the videos again in lesson 30 and had pencil and paper to take some notes like Sid suggested in the Sunday call.

I think I finally figured out what I have been doing wrong. Sid brought up the multiplication factor a few different times in those videos.

I haven’t been factoring that in like I should have been. So I would enter a trade based on equal movement from the pound and the euro and a little less movement from the swissie. This gave me a false sense of correlation, which is why it has been reversing on me so many times.

Today, there would have been multiple times that I would have entered if I hadn’t gone back and watched those videos. I think this will make a big difference in the amount of negative trades that I get. I now understand why Sid said that he doesn’t know how I could be seeing so many “faultless opportunities”.

I definitely feel more confident in my ability to correctly spot correlating movement, hopefully this will translate into positive forex trading weeks in the near future!

Thanks for your assistance, the Sunday calls are such a big help to me!

Justin; Tampa, FL, USA

If you want to be like Justin then check out our Beginners Forex Course