I recently became interested in the carry trade and realized that it involved a high level of risk, so I decided to try to find a combination of pairs that would decrease the risk while maintaining a high interest rate. The two best I came up with were long NZD/USD and short USD/MXN, the USD going in opposite directions minimizes the losses because they move at different rates and in the opposite direction. When I made the trade I realized that there are many times during the week where they become profitable as a pair, I just picked up over 2% a few minutes ago and have already made over 6% this week, the only problem is I never know when these profit points will occur. Here is how I do it.
I buy NZD/USD and Sell USD/MXN using 25% of my margin for each, then look for a profit of more than 1% then close both trades and immediately reopen them increasing the lot size using the additional margin. Would it be possible to make an EA that would do it automatically allowing me to choose one pair to buy and one pair to sell and the % gain to close both pairs and reopen the trade.
I buy NZD/USD and Sell USD/MXN using 25% of my margin for each, then look for a profit of more than 1% then close both trades and immediately reopen them increasing the lot size using the additional margin. Would it be possible to make an EA that would do it automatically allowing me to choose one pair to buy and one pair to sell and the % gain to close both pairs and reopen the trade.