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Hedge and Correlation Strategy

  • #741
  • Sep 3, 2009 7:14am Sep 3, 2009 7:14am
Anyone in USD/JPY GBP/JPY yet?
  • #742
  • Sep 3, 2009 7:14am Sep 3, 2009 7:14am
By the way, this is a good teaching moment using GBP/USD and EUR/USD.

If we were directional trading right now, and had decided to short GBP/USD, we would either have taken out our stop loss, or we would be in drawdown.

For the amount of lots I have on this trade, right now I would be in drawdown of $11.10. As it is, because I have gone long EUR/USD I am in drawdown of $2.98.

Of course if we were directional trading and had gone long EUR/USD we would be in profit of $6.20.

I have tried for years to be a directional trader and just cannot seem to guess correctly which way the market might go. My crystal ball is all scratched up and when I think it says long it actually said short, and vice versa.

So this is one of the reasons I trade this way now.
  • #743
  • Sep 3, 2009 7:18am Sep 3, 2009 7:18am
Closed two eu gu trades this morn already
  • #744
  • Sep 3, 2009 7:21am Sep 3, 2009 7:21am
Quoting jtmoore007
Closed two eu gu trades this morn already
What were your results?
  • #745
  • Sep 3, 2009 7:27am Sep 3, 2009 7:27am
Quoting Auld0776
Anyone in USD/JPY GBP/JPY yet?
We should be, but I ran out of accounts to trade .
  • #746
  • Sep 3, 2009 7:29am Sep 3, 2009 7:29am
Quoting Dreamliner
What were your results?
Will post all results with this system when I get to work. Bout 30 min
  • #747
  • Sep 3, 2009 8:00am Sep 3, 2009 8:00am
Well to whoever posted the "Basket of Hybrids, 4 Pairs" thread, I would say that thread is practically useless. It can be summed up in the author's own statement which he says on page 2 of his thread: "My system rules are the subject for a long conversation because they use pretty complex mathematics and are not so easy to reproduce."

"...not so easy to reproduce" translates to "you can't trade this way."

So unless someone can make the rules "reproduceable" we can't use his system in any way.
  • #748
  • Sep 3, 2009 8:03am Sep 3, 2009 8:03am
68.5 pips total. changed the way im doing this. i have about a 10k live account so im going to be going after $50 hits at a time. im only going to trade 1 "set" at a time incase i have to average in.

this is why you see a change in lot sizes in the spreadsheet. trades will be taken the same none-the-less
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  • #749
  • Sep 3, 2009 8:09am Sep 3, 2009 8:09am
Quoting jtmoore007
68.5 pips total. changed the way im doing this. i have about a 10k live account so im going to be going after $50 hits at a time. im only going to trade 1 "set" at a time incase i have to average in.

this is why you see a change in lot sizes in the spreadsheet. trades will be taken the same none-the-less
I don't mean to question you, but are you sure you're ready to trade live? As you know, this system is "dangerous" in that pairs can trend rapidly and leave us in extended times of drawdown.

I don't recommend trading live until you've seen the "trend/drawdown" scenario at least once, and that can sometimes take a full month to discover.

It's your call, obviously, I just don't want to see anyone lose money.

Your trades look good here, and let us know how the $50.00 hits do over time.
  • #750
  • Sep 3, 2009 8:22am Sep 3, 2009 8:22am
Quoting jeffreytp
Here is the download link for the software:
http://www.fxcorporate.com/FXCM/FXTS2Install.EXE

Then go to this page to open demo account:
http://www.fxcm.co.uk/free-forex-accounts.jsp

On the top right choose Forex Demo and select your currency.

much more pleasing to the eye!!! thanks a million
  • #751
  • Sep 3, 2009 8:25am Sep 3, 2009 8:25am
Quoting Dreamliner
I don't mean to question you, but are you sure you're ready to trade live? As you know, this system is "dangerous" in that pairs can trend rapidly and leave us in extended times of drawdown.

I don't recommend trading live until you've seen the "trend/drawdown" scenario at least once, and that can sometimes take a full month to discover.

It's your call, obviously, I just don't want to see anyone lose money.

Your trades look good here, and let us know how the $50.00 hits do over time.

no no not going live with this. testing to see how the 50 hits go in demo with my balance of actuall account so i can see how DD goes. will keep everyone updated

Just closed this uj gj for + $58.37 up 2.28% today alone
  • #752
  • Sep 3, 2009 8:45am Sep 3, 2009 8:45am
Quoting jtmoore007
no no not going live with this. testing to see how the 50 hits go in demo with my balance of actuall account so i can see how DD goes. will keep everyone updated

Just closed this uj gj for + $58.37 up 2.28% today alone
Good work JT! I try for 1% a day, but sometimes it's much more. You've already doubled that.
  • #753
  • Sep 3, 2009 8:54am Sep 3, 2009 8:54am
It's tempting to get out of our JPY trades as they are in such huge profit. If anyone wants to I would certainly understand. I'm hanging on because there is still a gap.
  • #754
  • Sep 3, 2009 9:07am Sep 3, 2009 9:07am
Quoting Auld0776
Anyone in USD/JPY GBP/JPY yet?
I just closed it out for $3.13 profit! on a $85 account.
  • #755
  • Sep 3, 2009 9:08am Sep 3, 2009 9:08am
Just bought EC sold UJ
  • #756
  • Sep 3, 2009 9:11am Sep 3, 2009 9:11am
Quoting jtmoore007
much more pleasing to the eye!!! thanks a million

And there is no repainting, so you can actually make acurate trade decisions.
  • #757
  • Sep 3, 2009 9:16am Sep 3, 2009 9:16am
Quoting jeffreytp
I just closed it out for $3.13 profit! on a $85 account.
Man, you're overleveraged. I hope its a demo account!
  • #758
  • Sep 3, 2009 9:18am Sep 3, 2009 9:18am
I just closed the JPY pairs for nearly 2% on each. I think we'll be well over 10% profit this week.
  • #759
  • Sep 3, 2009 9:28am Sep 3, 2009 9:28am
Quoting Dreamliner
Man, you're overleveraged. I hope its a demo account!

DEMO
  • #760
  • Sep 3, 2009 9:29am Sep 3, 2009 9:29am
Hopefully I get a response to this thread. This EA should be our answer:
http://www.forexfactory.com/showthre...83#post3020383
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