Day traders are always looking for correlation in other markets or indicators to give them an edge. It’s not easy when there are lots of data and techniques out there to choose from. Those that are out there simply work in one market but not in others while more work at one type of market condition. Many day traders use the typical broad currency market to view the sentiment and trend of the markets to gauge the influence they have on the individuals they monitor and trade. This helps see the tendency of the market to swerve one way versus another. Others use to gain a tiny milliseconds to see ahead of what others cannot see, so this aids in understanding what the big boys are thinking and doing.
