Hedge and Correlation Strategy

Hey been reading about your strat. Im going to give it a try on demo..

Can this method work for the 1M? scalping?

or do you just recommend 30minute time frames? also when do you add to the trade? thanks

and for the charts.. just pick lets say eur/usd right click on the chart, then click chart elements, then click Price Overlay and whichever currency you want. and Wala

i havent used line but if you click on line then click on line again you can tun of thee high and lows.. pretty simple.

OK with you so far, now how to overlay.

...then scroll over symbols above chart until you find "price overlay". select which pair you want to overlay. BTW make sure you have the main pair already on the chart. You select this from the drop down box far left. I should of said this first ...you might have to remove high line and low line again.

once in trading station go to charts - open marketscope ok once here just x out of all there charts - lets start fresh-

go to file create market shot. it will ask what pair and timeframe. fill this in and ok

now the little tab right next to the time frame (30 minutes) click down arrow and change to line. next click icon again and uncheck show high line and do again for low line. now you have 1 line on your chart

next click the I in the picture im showing you. this will bring up overlay chart. go to the pair you want to over lay with

now its a little confusing which line is with which pair so what i do is right click on the line that i just overlayed and click "pair"properties on very top of menu that pops up. this will bring up properties of the overlayed line now change both things to RED. once done hit ok. now you see your overlayed pair in red and its line in red

ill show in pictures for you, you ROOKIE!! lol

Aha, that was easy! How do we take the other 3 charts and remove the pair that is currently on them and put in the pairs we want?

i attached a picture of EUR/CHF and GBP/JPY 30 min chart.. is this a good trade?? thanks.

now to get more than 1 chart.............................be right back

Left click and hold on an open space on the chart and scroll the ends to the middle so you can see the gap clearer.

Click on the symbol at top "fit chart vertically". The symbol next to that has "autoscale chart vertically" so you don't have to do it manually as it moves along.

That's pretty much it. Make trade when there is a sizable gap (preferably) and watch until they meet to close out. You can close out before they meet if you are satisfied with the profit margin. GL.

Hey pictures I can do! Now that's what I'm talking about!

file create marketshot repeat previos steps with new pair

good point jt...syncronize the color of the label with the line to avoid confusion. I did that also but forgot to mention it.

Can we get a mirror of the chart? Like reversing pairs negatively correlated?

Chamane

now for multiple charts on screen at same time................

1 step at a time im still dealing with dreamliner here LOL

That's a full time job....I'm just sayin'

I haven't messed around with this chart system, so I don't know all of it's features. Does anyone know how to put the line on current price for so we can see the gap even clearer? In other words when the lines touch the gap has closed.

click on 1 of your chart tabs at top and drag to middle once in center circle let go of mouse on one of side to side or up and down arrows wash rinse repeat

man........that was a lot of work

You guys might want to stick to trading one or two sets at a time. Too many open 'sets' on multiple charts can get confusing. Just increase your lot sizes (which can help equalize the currency ratio also). I suggest find a couple sets of highly correlated pairs that have a value ratio you can equalize. For example... gbp/yen vs. aud/usd. They have good correlation and the ratio is almost close to 2:1 (although not quite exact).