After learning about the Forex daily statistics, you will be able to better manage their risk as a trader and understand how to relate different currencies. You can also learn how different forex pairs move in different time frames.
As a trader, you should be aware of the major economic announcements. If you trade on a daily basis, to close all positions before the new will be scheduled on the & # 39; reality. Only start trading again after the news.
If you slow trading, make sure that you are aware of any important economic news that may be declared. If you have a stop-loss order is very close to the price before the announcement of the news, you may want to think about closing position because of the & # 39; reality can lead to significant speed / jumping, making a stop-loss to be ineffective.
Current interest rates
Knowing the current interest rates in some areas, it may be helpful if you hold long-term positions that would be subject peragorttsy every night. The transition occurs when you set off, or debetuyuts the difference in interest rates of the two currencies, which are present in the Forex pair.
Forex correlations Statistics
They tell how the pair refers to how the other moves. For example, you may have one pair that moves almost identically to the second. In this situation, you should choose the one that you like best, and then sell it. Taking full position size for both of these currencies, you will double your reward or risk, because if you lose or win one, you're probably going to have the same results in another.
Statistics forex volatility
They show how the pair moves – on average – for a certain period of time. This will help you estimate how long it might take the price to achieve a specific price target and can help in setting stop-loss and target levels.
This shows the amount that should pips, depending on the time that you are trading. Each currency will be worth a different amount compared to other currencies. The amount of profit / loss is then generated each point of the movement, which is set by the currency pair you are trading. On the cost of the item it will also affect the currency in which your account is.
Always aware of these statistics, you minimize the risks due to unnecessary risks, thus increasing the chances of profit.