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Trading correlation pairs by using the other pairs

  • #61
  • May 3, 2020 2:20pm May 3, 2020 2:20pm
Quoting P.Action
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.
Hello Redfan,

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Above screen short I have done the setup, if you can give small definition about each EA. My guess for as follow kindly suggest are these correct or need to understand more about them .

autoslautotp -- this is for setting up a auto trade (enable auto trader from tools--option--expert advisors--Allow automated trading)
BidRatio -- Setting up order size
Currency_Strength_Giraia_3_Tier_Breakout -- Need to understand about this one and and how setup
Day of week -- Show week days in chart
SecondChart -- Adding a pair EUR/USD <--> GBP/USD
volatility -- Somthing Buy/Sell volume
  • #62
  • May 3, 2020 2:32pm May 3, 2020 2:32pm
i just suggest you look back at the correlations in time.
and understand why this does not work.
  • #63
  • May 3, 2020 3:23pm May 3, 2020 3:23pm
Quoting shunya.trade
{quote} Hello Redfan, {image} Above screen short I have done the setup, if you can give small definition about each EA. My guess for as follow kindly suggest are these correct or need to understand more about them . autoslautotp -- this is for setting up a auto trade (enable auto trader from tools--option--expert advisors--Allow automated trading) BidRatio -- Setting up order size Currency_Strength_Giraia_3_Tier_Breakout -- Need to understand about this one and and how setup Day of week -- Show week days in chart SecondChart -- Adding a pair EUR/USD...
autoslautotp=== this is an EA it needs loading in the expert folder, it's only but stops and take profit positions
once you place a trade,
BidRatio==== is a indicator for the daily range ATR
Currency_Strength_Giraia_3_Tier_Breakout==== it looks like you have already set this up , you need to play with settings till you get it right,
Day of week -- Show week days in chart=== it looks like you have already set this up , you need to play with settings till you get it right,
SecondChart=====it looks like you have already set this up , you need to play with settings till you get it right,
volatility===== I can't see this on your chart, you just need to put it in the indicator folder
SEE MY SETTING
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  • #64
  • May 3, 2020 3:38pm May 3, 2020 3:38pm
autoslautotp

MY SETTING FOR EA

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  • #65
  • May 3, 2020 3:52pm May 3, 2020 3:52pm
If anyone sees any signals like this chart this week,
could you please share your chart with the thread.
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  • #66
  • May 3, 2020 4:16pm May 3, 2020 4:16pm
Quoting redfan
If anyone sees any signals like this chart this week, could you please share your chart with the thread. {image}
I don't understand how u see signal..... can u help me?
  • #67
  • May 3, 2020 5:45pm May 3, 2020 5:45pm
The moving average is in on the right side of the candle
the currency's strength is recommending a buy or sell
you have to check what are the other charts telling you
if the USA is going up against all the charts there is a signal for you

you won't pick it up straight away you need to practice with a demo accounts
I've already had to trades in the last 30 minutes,
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  • #68
  • May 3, 2020 10:35pm May 3, 2020 10:35pm
Quoting redfan
let get this one on first. {image}
BS, FX markets are pretty efficient to eliminate profit opportunities. Even if they arise retail traders are too slow to catch them.
  • #69
  • Edited 2:36am May 4, 2020 2:00am | Edited 2:36am
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Got this one completely wrong,
went into the stock market before it had even opened in London,
you learn by your mistakes. I will wait and let the stock market open
and see what happens from the first 30 minutes in the future.
  • #70
  • May 4, 2020 2:08am May 4, 2020 2:08am
THanks for your work Redfan, I've subscribed and following along, have got a demo account all setup and going through your notes, hoping to add some updates to my journey with you, stay safe and wishing you properous trades.
  • #71
  • May 4, 2020 2:09am May 4, 2020 2:09am
Quoting redfan
{image} {image}
Well of course: if GU, AU & NU go UP , u are betting that USD will be weak.....this is not trading on correlation but Basket Trading based on Currency Forces.....
  • #72
  • May 4, 2020 4:23am May 4, 2020 4:23am
I'm studing this approach (tnx u redfan for introduce it). I found this old 3D: https://www.forexfactory.com/showthread.php?t=211769

I continue my study & reasearch..... green pips to all
  • #73
  • Edited 1:24pm May 4, 2020 4:48am | Edited 1:24pm
Quoting redfan
{image} {image} Got this one completely wrong, went into the stock market before it had even opened in London, you learn by your mistakes. I will wait and let the stock market open and see what happens from the first 30 minutes in the future.
I thought I would have another go with this chart and this time it's playing the game in my favour.


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  • #74
  • May 4, 2020 5:01am May 4, 2020 5:01am
Quoting SithFX
I'm studing this approach (tnx u redfan for introduce it). I found this old 3D: https://www.forexfactory.com/showthread.php?t=211769 I continue my study & reasearch..... green pips to all
Thank you for your input.
I have read this thread there are several of them.
If you search round about 2011 to 2015,
A lot of them are talking about Hedge,
  • #75
  • May 4, 2020 5:15am May 4, 2020 5:15am
After this morning, I will NOT be trading before 9 o'clock London time,
This has now become one of my own rules,
I will call them my own rules,
Because I'm not telling people what to do,
  • #76
  • May 4, 2020 5:33am May 4, 2020 5:33am
Quoting redfan
After this morning, I will NOT be trading before 9 o'clock London time, This has now become one of my own rules, I will call them my own rules, Because I'm not telling people what to do,
Always look at the higher charts, London Open can be a scary ride with deep pullbacks before resuming trend.
It never gets easier, you just get better
  • #77
  • May 4, 2020 6:48am May 4, 2020 6:48am
Quoting Shabs19
{quote} Always look at the higher charts, London Open can be a scary ride with deep pullbacks before resuming trend.
Thank you for your input,
When you say the higher chart
are you talking high than the daily,
because I only check up to the daily
but I am openminded and will listen to any advice,
  • #78
  • May 4, 2020 7:15am May 4, 2020 7:15am
Quoting redfan
{quote} Thank you for your input, When you say the higher chart are you talking high than the daily, because I only check up to the daily but I am openminded and will listen to any advice,
The hourly/H4 chart usually tells a lot of information, if your trading frame is 15m
Previous week lows, especially the Thursday Low was nearby and price can be expected to react.
I look at Daily, Weekly & Monthly Highs & lows, these can become strong support or resistance.
It never gets easier, you just get better
  • #79
  • May 4, 2020 9:28am May 4, 2020 9:28am
Quoting Shabs19
{quote} The hourly/H4 chart usually tells a lot of information, if your trading frame is 15m Previous week lows, especially the Thursday Low was nearby and price can be expected to react. I look at Daily, Weekly & Monthly Highs & lows, these can become strong support or resistance.
Thanks for that, I will start marking the weekly and monthly Highs & lows,
  • #80
  • May 4, 2020 1:57pm May 4, 2020 1:57pm
Here A indicator I have found, You can put any two pairs on the one chart,
You just have to wait while it crosses for your entry point,
You can only trade the main pair,
I will be giving it a go tomorrow at some point,
The two pairs I've got are GBPUSD EURUSD

It came with this picture
good luck
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THIS IT ON MY CHART
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