I love Market Milk. There is so much rich, useful data in one place - all presented in a really easy to read format. So thank you for the offering - very much appreciated.
I was wondering whether it shows currency correlations. If it does not - may I offer this as a suggestion for a future update? I can imagine choosing a currency pair and then seeing one of your fancy sliders with the other currency pairs bobbing about from +1…0…-1
Anyway, just a thought. Thanks again - best fx dashboard I have come across!
If you want to buy e.g. USD, don’t ignore what the counter currency is in your dollar trade - no matter how positive the dollar looks, its very high risk to buy USD against an even stronger currency.
To keep up awareness of my exposure to correlating currencies I use a table which ranks the 8 major currencies vertically from recently strongest to weakest. I mark against each whether I am long or short, and whether I have a buy order or sell order set.
I want to see the long positions and orders at the top and the short positions and orders at the bottom. I also don’t want to see a large number of positions horizontally against the same currency. You can also adapt the table so that you can see for example AUD and NZD positions and orders physically linked, also EUR and CHF, or CHF and JPY. Its immediately obvious if the trades are over-weight in a certain currency.