TS Order 3-#2-S3
Same pairs will be traded in this TS Order 3 setup however directions may vary.
Correlation data for monthly, weekly and daily (myfxbook)
Monthly
Weekly
Daily
Use the 3 charts to form an opinion on which pairs are more closely correlated (positive or negative).
Trading an M15 chart might be intraday trading to some but consider average trade duration, SL and TP distances and how correlation relates.
Weighting of currencies and directions need to be considered.
Although all these factors are considered the market can still whip around and take out the stops so all we can do is make the best choices from the available information and manage the risk.
Observation of each pairs current price with respect to the MML Grid levels will be considered for the final choice of direction of each of the 9 pairs.
The plan will be to trade this TS Order 3 right through to the end of the week and then close it out if the cycle of trades are in net profit.
This is so that end of month data analysis is cleaner (no open trades in progress).
Final choice will be shown in the next post!
Masterrmind............
Same pairs will be traded in this TS Order 3 setup however directions may vary.
Correlation data for monthly, weekly and daily (myfxbook)
Monthly
Weekly
Daily
Use the 3 charts to form an opinion on which pairs are more closely correlated (positive or negative).
Trading an M15 chart might be intraday trading to some but consider average trade duration, SL and TP distances and how correlation relates.
Weighting of currencies and directions need to be considered.
Although all these factors are considered the market can still whip around and take out the stops so all we can do is make the best choices from the available information and manage the risk.
Observation of each pairs current price with respect to the MML Grid levels will be considered for the final choice of direction of each of the 9 pairs.
The plan will be to trade this TS Order 3 right through to the end of the week and then close it out if the cycle of trades are in net profit.
This is so that end of month data analysis is cleaner (no open trades in progress).
Final choice will be shown in the next post!
Masterrmind............
Master your Mind then Master your Trades