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Trading correlation pairs by using the other pairs

  • #41
  • May 3, 2020 8:45am May 3, 2020 8:45am
Quoting redfan
{quote} Let me get some of the Questions ticked off for you, ...
Hi Redfan,

Thank you for answering some of the questions. I look forward to seeing more examples to get a clearer picture of how to better setup trades. Once again, thank you.
Knowing is not enough, we must apply. Willing is not enough, we must do.
  • #42
  • May 3, 2020 8:47am May 3, 2020 8:47am
Quoting tiborf71
i read the strategy and in this form it will not work. because the groups are not well chosen.
So, what do you suggest?
  • #43
  • May 3, 2020 8:48am May 3, 2020 8:48am
Quoting tiborf71
i read the strategy and in this form it will not work. because the groups are not well chosen.
You man thanks for sharing all those info
bafqarmusliji
  • #44
  • May 3, 2020 8:55am May 3, 2020 8:55am
Quoting tiborf71
i read the strategy and in this form it will not work. because the groups are not well chosen.

And just out of curiosity. Can you explain the strategy and why the groups are not well chosen?
  • #45
  • May 3, 2020 8:56am May 3, 2020 8:56am
Quoting kofix11
{quote} So, what do you suggest?
the correlation strategy works but only if we only trade within the one-way group.
select groups aud, gbp, nzd.eur, cad.
we can put usdjpy in any group because it's good.

for example, the usdjpy usdchf, usdcad group should not be traded because they are too volatile.
  • #46
  • May 3, 2020 9:13am May 3, 2020 9:13am
Quoting tiborf71
{quote} the correlation strategy works but only if we only trade within the one-way group. select groups aud, gbp, nzd.eur, cad. we can put usdjpy in any group because it's good. for example, the usdjpy usdchf, usdcad group should not be traded because they are too volatile.
For example, this is a group.eurusd, eurchf, eurcad, eurgbp, euraud, eurnzd.
and only trade these in relation to each other in correlation.
  • #47
  • May 3, 2020 9:30am May 3, 2020 9:30am
however, these pairs need a good and reliable indicator to determine the correct correlation value within the group.
  • #48
  • May 3, 2020 10:05am May 3, 2020 10:05am
Quoting tiborf71
{quote} the correlation strategy works but only if we only trade within the one-way group. select groups aud, gbp, nzd.eur, cad. we can put usdjpy in any group because it's good. for example, the usdjpy usdchf, usdcad group should not be traded because they are too volatile.
This is my favorite chart the EURUSD versus USDCHF.
I know this can be volatile, But I do not trade the EURUSD,
This pair is just for observation,
If I see the EURUSD is strong and going up against the dollar
I will trade the USDCHF,
I will be trading this tomorrow, With a bit of luck have a winning trade.
I will only be trading pairs which I believe to be over +70%
I will also be watching the news, Because if any of the countries in Europe open the lockdown,
I believe the euro will GO, up AS for picking groups.
I will be picking one pair versus another,
I'm open-minded to any suggestions and I thank you for your Contribution up to now,
Your example of pairs not to trade is correct, They are volatile
and I don't believe that I've advised anyone to trade USDJPY USDCAD,
But I like USDCHF because I've had quite a few wins,
At the end of the day if we can all help each other, then this thread will be worth it.
PS.
I've asked the admin to move us to the Trading Systems, which is where I put it in the first place, but I'm not had any message back yet,
  • #49
  • Edited 1:32pm May 3, 2020 10:20am | Edited 1:32pm
This is the first chart, I will be going to tomorrow to have a look at what the EURUSD is doing,
I will check THE chart is set up to way i like it,
I will put some support and resistance lines on
the timeframes I will check will be 30M 1H 4H

Just will wait then for entry to appear

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd usdchf.png Size: 58 KB


While I'm on this chart their something I'm going to show you,
it's a bit of a mystery.
When you put this chart on the one-minute timeframe. Every now and then a white candle will appear,
whatever the next colour candle is, The trade goes in that direction.
have a look at the bottom chart
Has anyone got any ideas what this could be?

Attached Image (click to enlarge)
Click to Enlarge Name: white candle.png Size: 159 KB
  • #50
  • May 3, 2020 10:29am May 3, 2020 10:29am
the correlation of eurusd/usdchf can be traded by eurchf.
  • #51
  • May 3, 2020 12:39pm May 3, 2020 12:39pm
Quoting redfan
{quote} Let me get some of the Questions ticked off for you, these are the only indicators I am using, I am drawing the divergence lines manually. moving avg is 21 expontial you will already have this {image} {file} {file} load this two time with Different pairs {file} i''m also using an EA. for stop Loss and take profits. It does not put on trades
Attachment g
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 53 KB


Request you to share a EA from screen short
  • #52
  • May 3, 2020 12:51pm May 3, 2020 12:51pm
Quoting shunya.trade
{quote} 3623866 {image} Request you to share a EA from screen short
Attached File(s)
File Type: mq4 Day of week.mq4   2 KB | 485 downloads


Attached File(s)
File Type: mq4 volatility.mq4   2 KB | 571 downloads


the moving average is in your mt4 click on add indicators.
Attached File(s)
File Type: ex4 BidRatio.ex4   11 KB | 507 downloads
  • #53
  • May 3, 2020 1:12pm May 3, 2020 1:12pm
Attached Image (click to enlarge)
Click to Enlarge Name: InkedScreenshot_7_LI.jpg Size: 328 KB


Attached Image
  • #54
  • May 3, 2020 1:27pm May 3, 2020 1:27pm
Quoting redfan
{image} {image}
How u can know who is the liar in real time?
  • #55
  • May 3, 2020 1:29pm May 3, 2020 1:29pm
Attached Image (click to enlarge)
Click to Enlarge Name: NEGATIVE CHARTS.png Size: 342 KB


Attached Image
  • #56
  • May 3, 2020 1:31pm May 3, 2020 1:31pm
Quoting redfan
{quote} {file} {file} the moving average is in your mt4 click on add indicators. {file}

Thank you for sharing the same
  • #57
  • May 3, 2020 1:33pm May 3, 2020 1:33pm
The white candles are dojis.
  • #58
  • May 3, 2020 1:45pm May 3, 2020 1:45pm
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_31.png Size: 399 KB
  • #59
  • May 3, 2020 1:49pm May 3, 2020 1:49pm
Quoting handy148
The white candles are dojis.
So they are nothing special then,
Thanks for your contribution.
  • #60
  • May 3, 2020 2:05pm May 3, 2020 2:05pm
Good technique but something is missing. For example you only use usd based currencies and common ones. I think Eur and chf correlation will deteriorate in these days eurchf should go up from 1.0526 . Generally you should find the best money to buy and the best money to sell. Sometimes this could be correlation pairs. generalizing is wrong. Anyway thanks for your sharing.
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