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  • #19,641
  • Jul 21, 2014 9:00am Jul 21, 2014 9:00am
Quoting T@rantula
As i promised to many traders who asked me about some tools which are helpful in my ( and possibly their ) trading, I have written a summary of most useful things on my trading platform. The TOOLS which are helping me in my trading decisions: Because I trade my own method CAMMACD the pairs which I trade are correlated to some extent. I trade extensively 24 pairs. Generally for me it is the same whether I trade ( or analyze ) EURUSD or CHFJPY. That is why I am extensively using CORRELATIONS. When two sets of data are strongly linked together we...

You're a great man Nenad, thanks for all your help here and with AM webinars!

lp

Dragan
fxkeys
  • #19,642
  • Jul 21, 2014 6:56pm Jul 21, 2014 6:56pm
Quoting T@rantula
As i promised to many traders who asked me about some tools which are helpful in my ( and possibly their ) trading, I have written a summary of most useful things on my trading platform.
That's great T, thanks for sharing. I checked my platform for the same features guess their only for Pro accounts.

GB
  • #19,643
  • Jul 22, 2014 12:22am Jul 22, 2014 12:22am
Quoting Badasti
{quote} Thanks I really appreciate it! Could you please send me a PM of where I can get those tools? Also, if 2 pairs are correlated, do you still trade both pairs or will you only trade 1? (ie positive: trade 2x the same direction and negative: trade 1x buy and 1x sell)
Sure Badasti. if 2 pairs are correlated, i usually trade both. Lets say for example AUDUSD and USDCAD. Those 2 pairs are negatively correlated ( I only look at H1 chart) and they move usually in opposite direction ( above - 50 ). AUD is the base currency while USD is the quote ( counter currency ). on USDCAD USD is the base currency and CAD is the quote currency. That way If i trade those pairs simultaneously , I wont be double exposed to USD.

On the contrary, lets say we are trading USDJPY and EURJPY, that way we are double exposed to JPY currency and if the correlation is very high ( usually above -80 ) basically those 2 trades would move in the completely same direction dictated by JPY weakness or strength. So its always best to trade pairs which do not double expose you and/or are not correlated if you are trading more then 2 pairs in the same time. For trend trades I watch usually positive or negative correlation without double exposure. For example GBPCAD and USDCHF.

Quoting dragan9
{quote} You're a great man Nenad, thanks for all your help here and with AM webinars! lp Dragan
Thanks a lot Dragan! I am very glad it helps!

Quoting sunstar5
{quote} That's great T, thanks for sharing. I checked my platform for the same features guess their only for Pro accounts. GB
You can use it without any limitations on every LIVE account ( Demo is limited to 30 days trial ) , just make sure to install it. You need to download the installation first. its FREE. I will send you the link.
  • #19,644
  • Jul 22, 2014 12:37am Jul 22, 2014 12:37am
When price opens up above and between CAM H4 and H5 level it usually retraces or breakout above projected top ( H5 ). If that happens we can see usually a deeper retracement in the prevailing trend. Judging intraday chart on EURJPY we can see that intraday is slightly bullish while general trend is strongly bearish. 137.50 region could provide selling opportunities towards 136.85 target. We can see a history of near term sellers on retest ( where previous buying happened ) and 50 fib retrace above h5 ( deeper retracement ) camarilla.

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  • #19,645
  • Jul 22, 2014 12:51am Jul 22, 2014 12:51am
Hi T, please can you tell me, why I have a little bit different CAM levels than you?

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  • #19,646
  • Jul 22, 2014 12:58am Jul 22, 2014 12:58am
Quoting x46x
Hi T, please can you tell me, why I have a little bit different CAM levels than you? {image}
GMTshift should be 0
  • #19,647
  • Jul 22, 2014 1:40am Jul 22, 2014 1:40am
Quoting T@rantula
When price opens up above and between CAM H4 and H5 level it usually retraces or breakout above projected top ( H5 ). If that happens we can see usually a deeper retracement in the prevailing trend. Judging intraday chart on EURJPY we can see that intraday is slightly bullish while general trend is strongly bearish. 137.50 region could provide selling opportunities towards 136.85 target. We can see a history of near term sellers on retest ( where previous buying happened ) and 50 fib retrace above h5 ( deeper retracement ) camarilla. {image}
The price came to 137.30 then rejected. Was waiting for 137.50. First TP has been touched.
  • #19,648
  • Jul 22, 2014 1:50am Jul 22, 2014 1:50am
Quote
Sure Badasti. if 2 pairs are correlated, i usually trade both. Lets say for example AUDUSD and USDCAD. Those 2 pairs are negatively correlated ( I only look at H1 chart) and they move usually in opposite direction ( above - 50 ). AUD is the base currency while USD is the quote ( counter currency ). on USDCAD USD is the base currency and CAD is the quote currency. That way If i trade those pairs simultaneously , I wont be double exposed to USD.

On the contrary, lets say we are trading USDJPY and EURJPY, that way we are double exposed to JPY currency...

Thanks again for all your help!

That makes perfect sense, I knew there would be some sort of logic behind it I just couldn't figure it out!
  • #19,649
  • Jul 22, 2014 2:56am Jul 22, 2014 2:56am
Quoting T@rantula
You can use it without any limitations on every LIVE account ( Demo is limited to 30 days trial ) , just make sure to install it. You need to download the installation first. its FREE. I will send you the link.
Thanks T! I would love to try out that features I think it will help me a lot.

GB
  • #19,650
  • Jul 22, 2014 4:47am Jul 22, 2014 4:47am
Chart close like @T, but not sure how to use the 2 fancy tools, any example for entry will be great

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Thanks for sharing
  • #19,651
  • Jul 22, 2014 5:12am Jul 22, 2014 5:12am
Good morning,
I thought I would try and contribute to the tread. I took a long at .8410 last night for my first leg up trade is closed. I am looking to take another long at POC 1 due to previous price action retest and CAM level. I will probably take a smaller position because I would like to see price make it to POC 2 for a deeper retracement, but I am not sure it will make it to POC 2 due to the strength of the trend.
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  • #19,652
  • Jul 22, 2014 5:41am Jul 22, 2014 5:41am
Quoting Pipoholic1
Good morning, I thought I would try and contribute to the tread. I took a long at .8410 last night for my first leg up trade is closed. I am looking to take another long at POC 1 due to previous price action retest and CAM level. I will probably take a smaller position because I would like to see price make it to POC 2 for a deeper retracement, but I am not sure it will make it to POC 2 due to the strength of the trend. {image}
Nice. POC1 is indeed at the level which u posted. Now the thing is we need some pullback im guessing that first support ( ex resistance is protected ). POC2 is a deeper retracement indeed. Monitor the price.
  • #19,653
  • Jul 22, 2014 5:42am Jul 22, 2014 5:42am
Quoting bolehbah69
Chart close like @T, but not sure how to use the 2 fancy tools, any example for entry will be great {image} {image} Thanks for sharing

You use correlation only if you are trading 2+ pairs
  • #19,654
  • Jul 22, 2014 6:07am Jul 22, 2014 6:07am
NZDJPY is making a confluence and the potential first entry zone comes around 88.25 targeting 87.80 and 87.50. Double fib confluence ( high numbers confluence ) with previous buyers ( probably fresh sellers now ) are making POC 2 which is even stronger zone ( 88.40-50 )
Retracement in downtrend with a potential to test previous support now resistance. The good thing about NZDJPY is the possibility for trading during both NY and Asian session.

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  • #19,655
  • Jul 22, 2014 7:23am Jul 22, 2014 7:23am
uuuggghhh! I missed my entry. It sucks having to work a job and trying to trade. LOL! It came very close to the 38.2% fib and H5 and then jumped 42 pips. Oh well there is always another trade.

Hey T would you still look to trade POC 1 or 2 now that it has made another leg up or would you reanalyze the trade all together?
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  • #19,656
  • Jul 22, 2014 9:16am Jul 22, 2014 9:16am
Quoting Pipoholic1
uuuggghhh! I missed my entry. It sucks having to work a job and trying to trade. LOL! It came very close to the 38.2% fib and H5 and then jumped 42 pips. Oh well there is always another trade. Hey T would you still look to trade POC 1 or 2 now that it has made another leg up or would you reanalyze the trade all together? {image}
( market or pending?? Thats why i prefer market orders... I would reanalyze the trade once new cam levels have been printed out.
  • #19,657
  • Jul 22, 2014 10:06am Jul 22, 2014 10:06am
Quoting Pipoholic1
uuuggghhh! I missed my entry. It sucks having to work a job and trying to trade. LOL! It came very close to the 38.2% fib and H5 and then jumped 42 pips. Oh well there is always another trade. Hey T would you still look to trade POC 1 or 2 now that it has made another leg up or would you reanalyze the trade all together? {image}

Would be nice and better, when you state somewhere what pair you are trading. Neither you mention it, nor is the price scale on the chart
  • #19,658
  • Jul 22, 2014 1:48pm Jul 22, 2014 1:48pm
Thanks T, Please say How can i get alarm at android mobile ?
  • #19,659
  • Jul 22, 2014 2:12pm Jul 22, 2014 2:12pm
Infinitus,
Sorry I guess when I made the chart it got cutoff. The price was at around .8443 for POC 1
-Pip
  • #19,660
  • Jul 22, 2014 7:28pm Jul 22, 2014 7:28pm
as allways very good stuff T one more adge to my set up only enter if you got 2 pairs or more in good correlacion against other pair nice one step by step we will get there ; ) and lots of patience
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