It would take too much time to explain to you what mirror effect is. Yes, I am looking at them upside down.
I said that usdx did not move as good as eur/usd or usd/cad and you are trying to explain me what dollar index means… . Is that what you are trying to do? We are definitely not on the same length.
Worked everything out. Thanks. Appreciate it. Just keep on trading using those sma’s and trendlines. Good luck.
As far as missing good moves, I do miss some. However, I still manage to go on profitably on a weekly basis.
Thanks anyway for your responses.
Very highly correlated. It’s like cas said “looking upside down”. The only difference is that eur is primary currency in eur/usd and chf secondary in usd/chf. And if you look in dollar index it’s almost an exact replica of usd/chf and and upside down eur/usd. That’s it.
Sure. I’m going to do a video in about 1hour time on how I traded aussie news (interest rates) and talk a little bit about things like when you have to play small and when to play big.
The correlations have not been behaving as expected over the past year or so. I have seen all 4 major pairs go up or go down at the same time. “Normally”, if GBPUSD and EURUSD go up, then USDCHF and USDJPY go down. Tread lightly on correlation trades in the current market. There are a couple of sites that show the correlations for the past month, 3 months, 6 months, year, etc…
My experience tells me a different story. If eur/usd goes up and usd/chf go down, so isn’t there a correlation?
eur/usd and usd/chf very highly correlated. aud/usd, nzd/usd same story. usd/cad correlates with those commodities, although not too much.
gbp/usd can move absolutely independantly. Same story with usd/jpy.
primary and secondary are just terms that I use.
ok new video also verry intresting but i still have a thousend questions how do enter and exit hwo do you determine thos points buy the red lines (support and resistance) ?
Can you please make a video that that is named HOW TO TRADE please
Before trading I also ask myself some questions. About thirty-forty. By answering those I determine if I am going to trade or not. How much I am going to risk. Where I place my stop. Where I exit. Exits as you know are the most difficult to decide. They can vary on quite many things.
So yes, I will do sometime during this week a video which explains more about those lines and maybe at the weekend or if I manage to fit in in youtube format today I will talk about determening exit points and moving stops as forex market moves. I won’t tell everything of course.
Pairs can be positively correlated [move in same direction] or negatively correlated [move in opposite direction]. It wasn’t my contention to say the pairs are not correlated. My point is the correlations do not always “hold true” like they did 2 or more years ago. I am not doubting your experience. Good luck to you.
What is the point in all this? If you’re not willing to teach those who want to learn, what is this all about? Leading up to a sales pitch by any chance?
Oh my. I am doing my best to do that. Through videos and other ideas in my posts. And I will continue doing it for free.
So, do not worry about selling.
I have watched the latest video verry intresting like the other but i have many questions unansweard. Like the news are you only taking the news that say HIGH ?
how do you determen support and resistance channel is it always the latest or the biggesst or how do you determen ?
Will do a video on Monday about that. Attach those levels for trading cad news today. One and a half hours left. So levels that are shown are that seems best as of now. Might change after 1hour. gbp/cad and cad/jpy look best now. Others not such much because of misirable take profit level or a bad stop loss level.
Ok. Even number is one of the possibilities I look at. Then .50 level. Then the closest support or resistance. (So this is for the first position)
Second one. Free float, moving stops. Several posibilities as well. 123 patterns on 5 minute chart. Below or above 15 minute candle (setting stops). Below or above 1h/4h charts.
Sometimes third position. Setting for 300 pips of profit. Simple forex strategy.
For gbp/cad already have 50 pips of profit fixed. Closed at even number. Second is on breakeven.
cad/jpy closed the first position manually with 20 pips of profit.
Second is on breakeven.
