DislikedI wonder if this system could work with GBP or other currencies.
Thanks, loophole for bringing this system to us. I love it already.
CarolIgnored
MT4 MTF Correlation table and Correlation oscillator indicators 155 replies
So is the Dow USD correlation just a technical indicator? 6 replies
Correlation between the Yen and Dow 1 reply
Correlation 14 replies
Correlation of Pairs 17 replies
DislikedJust placed a test trade at 3:30 and now 4PM all trades closed + 40 pips each total 80pips! So for so good. I hope this works long term.
Where did you hear about this method?Ignored
DislikedHo Loophole,
My Oanda platfrom was seizing up on me, and the trades were nor developing very well so I closed out for 1 pip profit on EJ and 10 pips profit on EU. Not too great, but I can remember many times when I wised for 10 pips profit in a day's trading.
Is there sort of a time frame in which the trades should have hit either the SL or TP and you close them out because of low volatility?
BobIgnored
DislikedHi Loophole,
1/2 hour before the stock market close, the Dow was up (but less than 1%), and Exxon was also up. So...I didn't consider this a valid trade according to the rules.
However, within about 10 minutes or so, the Dow was up more than 1% and Exxon was also up. Consequently the price moved up enough to have made profits on both EU and EJ.
Would you have made the trade given the criteria were in place before the market close? Or did I do the correct thing by sitting on the sidelines?
Also, why do we use Exxon and not the broader international...Ignored
DislikedI did not take the trade at 12:30 because at 12:30 the DOW was not up at least 1%. However, 10 min later, when the DOW was up at least 1% and it was still before 1:00, I did take the trade. E/J and E/U correlate better with the DOW that does U/CAD. Exxon would give the same results as the
broader index would.Ignored
DislikedDo you think you need to revise your rules?
If you take a trade when the Dow is not up or down at least 1% at 3:30 EST, then what exactly is your criteria?Ignored
Disliked
WINNER WINNER CHICKEN DINNER
Two more winners today. It took a little longer than usual, but
E/J & E/U both paid off. For the week, here are the results for TP 30----SL 40
E/J - W4 = plus 120 pips
U/J - W4 = plus 120 pips
Total for 4 days trading = 8 winners and zero losses = 240 pips profitIgnored
DislikedLast Tuesday, Dec.2 was a loser- both currencies got stopped out.
I would call Wednesday a no trade day.. It required a rule change, after the fact, to make it a winner.Ignored
DislikedBill,
I concur...your synopsis is exactly what happened to me. Going back to the very first post by Loophole, apparently the rules support a Friday trade. My concern is that the forex market closes not that much later in the day after the NY Stock Market. Given all that, and the fact this is "Freaky Friday", would you avoid trading, today?
Much appreciated,
BobIgnored
DislikedLast Tuesday, Dec.2 was a loser- both currencies got stopped out.
I would call Wednesday a no trade day.. It required a rule change, after the fact, to make it a winner.Ignored
DislikedLoophole, Thanks for sharing your ideas.
I am probably not the only person who has this question (and it may be a stupid one).... Can you tell me (or point me to a resource that will explain it) why the E/U and E/J react to the Dow and XOM? What is the realtionship.
Thanks again. This a good thread.Ignored