One of the initial difficulties than new traders to forex are faced with is to decide which pair to trade with. So often I see people trading a low volatility pair like EURGBP or USDCAD not realizing that at the same time pairs like GBPAUD or GBPJPY are moving at three or more times the speed of the former.
We have made the selection of which pair to trade as easy as hopscotch in two ways.
First with our indicators within an eSignal watch list that measures the daily range and the average range over a period of time.
But when it becomes a child’s play is when we export the results of our eSignal indicators to Excel where the interrelationship of each currency is examined with complex algorithms and evaluated with each tick. A scrolling spreadsheet depicts continuously which are the best pairs to go long or short at any time of the day you decide to start trading.
Test it on your computer… and the rest will soon be history !