That is right, the headline says a single currency, not a pair. Most frequently forex traders concentrate on one the pairs, but they miss lots of trading opportunities on other pairs. There is a middle ground and it is possible to target a single currency in various pairs. One EA creators have made a decision to do that and created the GBPBOT. This Forex bot works on the GBP currency and its pairs. The advantage that it provides may not be immediatelly plain, however. Naturally, traders are used to trade the pairs and not single currencies (that doesn’t even make sense), so why concentrate on one?
The answer lies in the idea of relationship between different pairs. The pairs where the same currency is involved are linked and behave similarly. That’s to claim, if one pair is trending, others that inculde the same currency could be moving in the same direction as well. But that might not be that apparent so we use that relationship. And you can understand where it’s handy for foreign exchange trading robot development.
Tags: automated software, currency trading, EA, expert advisor, forex bot, forex trading, GBP, review, trading software, trading system