You’ve read it correctly, the headline says a single currency, not a pair. Most frequently foreign exchange traders concentrate on one currency pair, however they miss plenty of good trading positions on other currency pairs. There is a sweet spot and it is possible to target one currency in different pairs.
One robot creators have made a decision to do just that and created the GBPBOT. This robot focuses all on the GBP currency and its pairs. The edge that it provides may not be immediatelly obvious. Naturally, traders are used to trade the pairs, not single currencies (that doesn’t even sound right), so why target one?
The answer lies in the concept of relationship between different currency pairs. You see, the pairs where the same currency is involved are related and act in a similar way. That’s to say, if one pair is trending, others with the same currency could be trending as well. However, that might not be that apparent so we use that link. And you can see where it’s helpful for forex trading robot creation.It is an additional variable that helps making more profits.
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