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Hedge and Correlation Strategy

  • #701
  • Sep 2, 2009 2:05pm Sep 2, 2009 2:05pm
Quoting gez40
hold on to long and you could lose some gains, halved already since my earlier post...
Don't use MT4 overlay indicator. compare it with FXCM Marketscope.
  • #702
  • Sep 2, 2009 2:06pm Sep 2, 2009 2:06pm
Quoting Dreamliner
Sure:

Sold GBP/USD September 2, 08:09 EST. Price 1.6232
Bought EUR/USD September 2, 08:09 EST. Price 1.4220

Close trade GBP/USD September 2, 13:03 EST. Price 1.6279 (-53)
Close trade EUR/USD September 2, 13:03 EST. Price 1.4284 (+64)

I used 1,000 units (.1 mini-lot) on both of the currency pairs for a total profit of $1.73.

This was not much of a profit, but with this pair sometimes you don't get much. But on an account size of $119.00 that is a profit of over 1% and it was a very short trade, just a couple of hours.

1% per day in Forex...
I did same thing for $1.55
  • #703
  • Sep 2, 2009 2:15pm Sep 2, 2009 2:15pm
Quoting jeffreytp
I did same thing for $1.55
Perfect! That's the way, slow and steady, 1 trade at a time, over a period of years is millions.
  • #704
  • Sep 2, 2009 2:44pm Sep 2, 2009 2:44pm
Quoting Dreamliner
Sure:

Sold GBP/USD September 2, 08:09 EST. Price 1.6232
Bought EUR/USD September 2, 08:09 EST. Price 1.4220

Close trade GBP/USD September 2, 13:03 EST. Price 1.6279 (-53)
Close trade EUR/USD September 2, 13:03 EST. Price 1.4284 (+64)

I used 1,000 units (.1 mini-lot) on both of the currency pairs for a total profit of $1.73.

This was not much of a profit, but with this pair sometimes you don't get much. But on an account size of $119.00 that is a profit of over 1% and it was a very short trade, just a couple of hours.

1% per day in Forex...

perfect THANKS!!!
  • #705
  • Sep 2, 2009 2:54pm Sep 2, 2009 2:54pm
Quoting jtmoore007
perfect THANKS!!!
No problem, this has been my day off so I've been more available and am glad to do it.
  • #706
  • Sep 2, 2009 2:58pm Sep 2, 2009 2:58pm
Quoting jeffreytp
Don't use MT4 overlay indicator. compare it with FXCM Marketscope.
Hi all, I love this system and had a quick question for jeffreytp.

You had mentioned to enter using DailyFX and confirm with Marketscope.

Well, I downloaded Marketscope and did a price overlay on it. As far as I can tell it gives the same info as DailyFX. What exactly do you mean when you say confirm entry with Marketscope? Am I missing something?

Thank you.
  • #707
  • Sep 2, 2009 3:23pm Sep 2, 2009 3:23pm
Dreamliner, what would you say you averaged in pips per win

you loose 10 on one pair and gain 15 on the other = 5 pips to the positive

what would you average pip win be on a trade? any idea?


been demoing this since ive been active in this thread - only a few days but have had 3 wins for a total of 51.4 pips

like the system. just need to get used to when to get in and how much to expect to get out. having trouble with the getting out part.
Attached Image (click to enlarge)
Click to Enlarge Name: dream 1.png Size: 14 KB
  • #708
  • Sep 2, 2009 3:33pm Sep 2, 2009 3:33pm
That's always my hardest decision, too, how much profit to take? I don't ever wait until the pairs really cross, unless I can't check charts for awhile. I get out as they are "approaching". Or if they have indeed crossed, but we are not in profit, then I hold until we are and then get out.

I had a trade last week of 100 pips or more, I believe. Some are only 5-10. Maybe an average would be 20-40? I'm just guessing but that's probably an average.

The nice thing is with watching five pairs there is a trade every single day, I like it that way. Sometimes the trades last for hours, sometimes days.

I'd love it if someone could go through the mataf charts and find more pairs besides the ones I've listed, that are highly correlated, and list them here. I don't have time right now, but that would add to our profit for sure.

Quoting jtmoore007
Dreamliner, what would you say you averaged in pips per win

you loose 10 on one pair and gain 15 on the other = 5 pips to the positive

what would you average pip win be on a trade? any idea?


been demoing this since ive been active in this thread - only a few days but have had 3 wins for a total of 51.4 pips

like the system. just need to get used to when to get in and how much to expect to get out. having trouble with the getting out part.
  • #709
  • Sep 2, 2009 3:45pm Sep 2, 2009 3:45pm
Just got in EUR/USD GBP/USD again. Several trades on these pairs today.
  • #710
  • Sep 2, 2009 3:58pm Sep 2, 2009 3:58pm
im in as well playing more lots this time and only wanting 5 pips or so
  • #711
  • Sep 2, 2009 4:04pm Sep 2, 2009 4:04pm
DreamLiner, Thanks for this simple system, No complicated Indicators, That is what I like about it. I have been testing it out with pretty good results.

It would be nice if some one can create an EA to close the positions when a PAIR makes certain amount of profit( amount can be individualised). Wish I had known how to create EA.

Thanks again for this great and Simple system
  • #712
  • Sep 2, 2009 4:06pm Sep 2, 2009 4:06pm
Quoting ES Trader
DreamLiner, Thanks for this simple system, No complicated Indicators, That is what I like about it. I have been testing it out with pretty good results.

It would be nice if some one can create an EA to close the positions when a PAIR makes certain amount of profit( amount can be individualised). Wish I had known how to create EA.

Thanks again for this great and Simple system
ES Trader, glad you are having good results too.

I believe someone posted some EAs here (although I might be mistaken) that close the pairs when in a certain profit. Check the attachments on this thread and see if someone posted something like that.
  • #713
  • Sep 2, 2009 4:12pm Sep 2, 2009 4:12pm
hi all,

nice gap right now at EUR/USD-EUR/JPY,GBP/USD-GBP/JPY

Great system Dreamliner.Keep up the good work
  • #714
  • Sep 2, 2009 4:18pm Sep 2, 2009 4:18pm
Im quite sure a "close all when x in profit" EA can be found somewhere in this thread :

http://www.forexfactory.com/showthread.php?t=107119

PC

Quoting Dreamliner
ES Trader, glad you are having good results too.

I believe someone posted some EAs here (although I might be mistaken) that close the pairs when in a certain profit. Check the attachments on this thread and see if someone posted something like that.
Less is more...
  • #715
  • Sep 2, 2009 4:19pm Sep 2, 2009 4:19pm
Quoting thecambist
hi all,

nice gap right now at EUR/USD-EUR/JPY,GBP/USD-GBP/JPY

Great system Dreamliner.Keep up the good work
Ah, that's what I mean about we'll make more profit if we had more pairs. I hadn't even considered these before, but I've added them on to the list now and have entered these trades with you.

Thanks thecambist!
  • #716
  • Sep 2, 2009 4:34pm Sep 2, 2009 4:34pm
Im glad that i could help.I will have a look at mataf and post the the pairs we should consider beside the ones mentioned already.
  • #717
  • Sep 2, 2009 4:39pm Sep 2, 2009 4:39pm
Quoting pipcruiser
Im quite sure a "close all when x in profit" EA can be found somewhere in this thread :

http://www.forexfactory.com/showthread.php?t=107119

PC
Here you go. I have been using it. once in a while though it will not close all pairs so becareful.
Attached File(s)
File Type: mq4 CloseTrades_After_Account_Profit_Reached.mq4   3 KB | 474 downloads
  • #718
  • Sep 2, 2009 4:48pm Sep 2, 2009 4:48pm
Quoting tj_fxtrader
Hi all, I love this system and had a quick question for jeffreytp.

You had mentioned to enter using DailyFX and confirm with Marketscope.

Well, I downloaded Marketscope and did a price overlay on it. As far as I can tell it gives the same info as DailyFX. What exactly do you mean when you say confirm entry with Marketscope? Am I missing something?

Thank you.
ACtually you can setup Marketscope to look just like DailyFx only difference is MS does not repaint. That is a bonus because now you can be sure you enter in the correct direction. Other advantage is Your chart settings will notget erased just like in DailyFx. You have to zoom in a lot in MS to get it to look like DailyFx.


GETTING BETTER....
  • #719
  • Sep 2, 2009 4:50pm Sep 2, 2009 4:50pm
I guess next challenge is to design an indicator, which will fire an alert/e-mail when a gap (trade oportunity) is presenting it self in real time....

hmmmmm how to do/ calculate that and put in an indicator

PC
Less is more...
  • #720
  • Sep 2, 2009 7:53pm Sep 2, 2009 7:53pm
Attached is graph showing the straight price delta for EUR/USD - GBP/USD from March '09 till present. Quite the moving target and I think it would be tough to trade this way since its constantly changing. The daily fx and MS charts though are constantly adjusting and somewhat correcting this delta and are much more easier to trade from i think.
Attached Image (click to enlarge)
Click to Enlarge Name: delta.gif Size: 19 KB
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