That’s right, the headline says one currency, not a pair. Most frequently currency exchange traders concentrate on one the pairs, but they miss lots of good trading opportunities on other currency pairs. There is a sweet spot and it’s possible to target one currency of several pairs.
Certain EA creators have decided to do exactly that and made GBPBOT. This robot focuses all on the GBP currency and its pairs. The benefit that it provides might not be immediatelly obvious, however. Naturally, traders are used to trade the pairs and not single currencies, so why target one all of a sudden?
The answer can be found in the idea of relationship between different pairs. The pairs with the same currency is concerned are related and act in a similar fashion. That is to claim, if one pair is moving in one direction, others that inculde the same currency could be trending as well. However, that may not be that apparent so we use that link. And you can understand where it’s useful for forex trading EA creation.It’s an additional variable that helps profitability.
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