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Hedge and Correlation Strategy

  • #841
  • Sep 3, 2009 7:14pm Sep 3, 2009 7:14pm
GBP/USD vs. GBP/JPY = 1:1 (lot sizes)

AUD/USD vs. GBP/USD = 2:1

those are good ones.
  • #842
  • Sep 3, 2009 7:17pm Sep 3, 2009 7:17pm
ok the only thing I'm having problems with is opening additional charts. I didn't get the whole click on a chart tab and drag to middle and shake around or whatever.
  • #843
  • Sep 3, 2009 7:18pm Sep 3, 2009 7:18pm
my screen im only watching 4
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  • #844
  • Sep 3, 2009 7:22pm Sep 3, 2009 7:22pm
Quoting Dreamliner
ok the only thing I'm having problems with is opening additional charts. I didn't get the whole click on a chart tab and drag to middle and shake around or whatever.
lol

let me try again

ok you have 1 chart

now go to file - create market shot

this will bring up menu tell what pair you want

then fix chart how you already did

now you will have 2 tabs 1 for each chart. click 1 tab and hold. drag to center of other chart. your screen will turn blue and you will have a circle with 4 arrows around it. release on one of these arrows. if you release on a left or right arrow. it will arange the charts beside each other. if you release on up or down arrow it will arrange charts one above the other. if you release in the center you will see 1 chart with 2 tabs ( 1 for each chart)

just unclick on a right or left one and you will see your charts side by side
  • #845
  • Sep 3, 2009 7:23pm Sep 3, 2009 7:23pm
Quoting Dreamliner
ok the only thing I'm having problems with is opening additional charts. I didn't get the whole click on a chart tab and drag to middle and shake around or whatever.

im honestly laughing out loud. my 3 year old said Dad dora isn't even funny. (we r watching Dora the explorer)
  • #846
  • Sep 3, 2009 7:24pm Sep 3, 2009 7:24pm
Quoting 2+2=4ex
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.

not sure what you are asking here??
  • #847
  • Sep 3, 2009 7:26pm Sep 3, 2009 7:26pm
guys, this thread has been terribly active the last little while. lets start a skype chat. ill get it going tomorrow at US open if you all will open skype accounts and pm your name to me

DREAMLINER don't worry we can walk you through it. and its free
  • #848
  • Sep 3, 2009 7:33pm Sep 3, 2009 7:33pm
Phewww, now I got it! I'm sending you a big check for all your help.

By the way, have you guys noticed that there are not nearly as many pairs with FXCM?

Quoting jtmoore007
lol

let me try again

ok you have 1 chart

now go to file - create market shot

this will bring up menu...
  • #849
  • Sep 3, 2009 7:34pm Sep 3, 2009 7:34pm
Quoting jtmoore007
guys, this thread has been terribly active the last little while. lets start a skype chat. ill get it going tomorrow at US open if you all will open skype accounts and pm your name to me

DREAMLINER don't worry we can walk you through it. and its free
Ah, you're getting to know me now
  • #850
  • Sep 3, 2009 7:34pm Sep 3, 2009 7:34pm
What about reversing an overlay chart, is this possible?
  • #851
  • Sep 3, 2009 7:35pm Sep 3, 2009 7:35pm
Quoting Dreamliner
Phewww, now I got it! I'm sending you a big check for all your help.

By the way, have you guys noticed that there are not nearly as many pairs with FXCM?

not always a bad thing. many trades doesn't always equal many profits
  • #852
  • Sep 3, 2009 7:39pm Sep 3, 2009 7:39pm
I'm starting to wonder if the 30 minute chart is the best. Thinking about it I think the 15 minute is better (when there is a big gap).
  • #853
  • Sep 3, 2009 8:25pm Sep 3, 2009 8:25pm
And the profit is just beginning on EC-GJ $50 live account. Gonig to grow this to a VERY large sum in the next 12 months.
  • #854
  • Sep 3, 2009 8:46pm Sep 3, 2009 8:46pm
Quoting jeffreytp
And the profit is just beginning on EC-GJ $50 live account. Gonig to grow this to a VERY large sum in the next 12 months.
Sure you don't want to demo trade for awhile longer? Granted $50.00 is small, but I just want you to see all market conditions before going live.
  • #855
  • Sep 3, 2009 8:51pm Sep 3, 2009 8:51pm
One thing I like about trading like this is that I just looked and all the big reports are coming out tomorrow, and I don't even care what happens. I don't care about increasing spreads, or spikes, or big fluctuations, etc.

I'm in 4 trades right now and I don't care what happens with the news reports. That's a great feeling.
  • #856
  • Sep 3, 2009 8:53pm Sep 3, 2009 8:53pm
Quoting jeffreytp
And the profit is just beginning on EC-GJ $50 live account. Gonig to grow this to a VERY large sum in the next 12 months.
free one from ibfx? I got it to. Using it to test other things. May change to this system though
  • #857
  • Sep 3, 2009 8:57pm Sep 3, 2009 8:57pm
Quoting jtmoore007
we really could use the ea we are trying to get made!!! that way we could trade all of these pairs at the same time without trying to figure out when to close what. still have to worry about hedging and fifo if using swaps with the same pair. ( for us US guys )
hedging yeah, but IBFX is no worries with FIFO and FXCM UK solves all problems. Accounts are open to US citiz.
  • #858
  • Sep 3, 2009 8:58pm Sep 3, 2009 8:58pm
Quoting Dreamliner
OK I added the pairs to the first post. And I hate to say this but I downloaded the marketscope earlier and really couldn't figure out how to overlay very well. It seemed like there were way too many options.

With Dailyfx I have 4 tabs with 4 currency pairs in each tab, and can get a good trade at any time.

I might look at marketscope again but it seemed difficult to me.

Clear your cookies or restart your computer and say bye bye to dail;yfx settings. I have had to reeneter them many times.
  • #859
  • Sep 3, 2009 9:05pm Sep 3, 2009 9:05pm
Quoting jtmoore007
free one from ibfx? I got it to. Using it to test other things. May change to this system though

got that right. bonus money hit my account today.
  • #860
  • Sep 3, 2009 9:10pm Sep 3, 2009 9:10pm
Quoting jeffreytp
And the profit is just beginning on EC-GJ $50 live account. Gonig to grow this to a VERY large sum in the next 12 months.
This is a simple and relatively safe system, which is what makes it an overall attractive strategy, BUT it isn't the most profitable one if you know really how to trade forex. The reason is because of the time involved. A good trader who knows how to read s/r, pivots, trend lines & channels, and manage money can make more in a day trading straight up than waiting for correlated pairs to meet. Sure the straight up trader will lose some trades, but in this strategy one of your pairs usually ends up negative also.

Now with all that said, it is a good strategy if you are not a pro-trader and do not like to gamble much because it is simple & steady. If you have alot of time to make your money grow by compounding (and again aren't a pro-trader), then I definitely recommend this style.

One more thing I would like to note (very important)...do not get carried away or overly anxious and trade too large. If the pairs run away from each other (opposite direction away) for a long stetch, you could get margin called. So if you are starting out with $50, be sure to be trading micro lots. On the bright side if you get margin called early, you really only lost $50.
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