Obama= JFK :eek: I dont think so. and again, who said that???
And no sir, there is a strong correlation between dow and USD-that means if dow goes down then USD goes down too.
Yeah really who knows-I agree-and who really cares-just closed all my opens at a 200+ pips profit-So as I always promise, I am going to have an extra drink of my Macallumā¦G00d Night and happy trading 
Obama= JFK I dont think so. and again, who said that??? Kathy Lien said that and what she meant was his popularity is such that the whole world seems to really like him.
And no sir, there is a strong correlation between dow and USD-that means if dow goes down then USD goes down too.
Look again in the past 5 years or so except a couple of weeks now the carry trades are the ones that correlate with the dow. Coz your a newb Ill explain a carry trade is any pair ending in jpy for examply gbpjpy
They are a carry trade coz of the interest payout and viewed as speculative in nature. When the dow moves they move so if the dow goes up the gbpjpy goes up if the jpy is weakened due to the dow going up and people selling jpy it drives the usd up.
Ask anyone who has been in the markets more than a minute.
As of these days the better correlation is with the commodity carry pairs and the dow (audjpy)
Im having a hard time posting some charts I have so Ill have to do it next time.
Carry pairs
USD pairs
what has the better correlation???
Looks like we were just shy of this last night. I had my original TP at 1.3000, but moved to 1.3020. I missed it by a couple of pips. Lets see if the current rally will bring it backā¦This time I put it back to 1.3000 since its a nice round number
Taken from another old thread (in reply to 1Tex)and rather than revive it over there thought I would bring it over here in the not so secret secrets thread.
What the heck, Iām just trying stuff out and working on getting a feel for everything but I thought I would try the above advice on my demo.
Now this is what I did in setting up this trade. I share because I welcome advice or criticism as this method seems so appealing because you can be sleeping while it runs its course, and of course it is dang simple. I started this process about 2:00AM EST. I looked for pairs that were strongly trending on the H1. From these 4 or 5 pairs (cant remember exactly as my mind was shutting down) I went to the M30 H4 and Daily to make sure that these time frames were trending in the same direction as the h1. By the way Iām determining trend in each timeframe using the Shi_Channel_True primarily. After determining which pairs were trending on 4 timeframes I looked for any pairs that were beginning or at the beginning of their bounce on the Shi_Channel in the direction of the trend. Unfortunately there wasnāt a great setup in this regard but I still went with the cable which I shorted and went long on the E/G.
When I woke up this morning @ 8:00 I closed both trades at the beginning of the US Open. On the cable I made 24 pips and on the E/G i made 71 pips.
In retrospect I got out of both pairs at the right time which I assume is due to the fact that their is a mini reversal at the opening of the US markets.
Anyway am I kinda thinking right on this overnite H1 trade?
Sandpiper,
since youre reading old posts, go find one near the beginning that says (in effect)
its a whole new world, with its own culture and language and if you stick around, day by day you will learn more and more and in a year youll be laughing at what you didnt know prior !
WELCOME to knowledge and experience !
mp
sandpipper
I was trying to work the Midnight EST into a EA. After multiple attempts at different trending, it looks like this is more of a feel type of thing and not a systematic single like: if candle x is higher than candle y, then sell.
I do see the paterns and agree they are there. However, until I know longer work for the man, I will not be able to perform these types of trades
i said a YEAR !
NOTHING premature about that !
LOL
mp
did anyone else catch that 200 pips at 2:40 est long??? lol Man I sure hope soā¦ Iām still in longā¦ looking to 1.4340 atleastā¦ WOOHOO
sorry, 2:10 estā¦ Iām sticking it out for a whileā¦ heard someone lean toward 500 plus this morning
JohnyKanoo-
Thanks for the charts. I donāt understand what you have been trying to say here-I think you and I are on the same page, but you nevertheless beg to differ. I know what carry trades are, I am here to learn-I am going to hang around here as long as there is still some stuff left to learn. If you dont agree then disagree pleasantlyā¦
anyways, I was not talking about the commodity pairs-I know the dynamics of the interest rate differential between those. In fact I never trade those. I was stating a fact-and the fact is that I trade eur/usd-and this pair gets stronger when dow goes down (in other words USD gets lower when dow goes down and vice versa)
Also, this has only been true from last 12-14 years-infact there is now a 90%+ correlation between USD and DJIN. I hope it makes sense.
Take care and trade well!
Sandpipper-first of all congrats on having stumbled upon this nice lil gig. Yes this will work. In fact here is what I suggest-thogh I dont know what your goals are, but if I were you I will identify such pairs as outlined in your post and put a t/p at about 20-25 pips. These t/ps will always be hit, when you are sleeping. ALWAYS. If you do two trades then that is 50 pips. My desires are only modest, I only look for about 20 pips and usually I get about 40 a night. Best!!
Secondly I know you have asked me another question on the other thread-just fyi I have not forgotten but I also got my day job and I have all plans to reply to your questions with some screenshots and stuff, this weekend, that will show you how I am able to avoid some traps and accordingly set tighter t/ps based on what I see on my LRC and shi.
Take care you are doing great!
onetexan I come on peace man. I felt attacked by your responses (2 times) so I shared what was obvious to me. Grandpa me no sir im 34 just became a daddy.
I am truly happy you are in profit. I do humbly suggest if you really look over the history when the dow drags the jpy down it strenthens the dollar basically across the board. Although i will be the first to admit that that isnt true as of late.
Anyway no hard feelings I dnt mean to be coming off as egotistical Ive only been trading for 4 years so guru I am not.
Well JohnyKanoo, you are my fx buddy-and as I said before no offense at all. I feel bad if you felt there was any fight at allā¦ and I take the objectionable remarks out of my post.
I dont have 4 years under my belt but sure I want to be able to survive for 4 years and longer and for that I need advice and wisdom from those who have been longer here like you.
I wish you best luck and many a happy years of trading!
True True! but a year is not what it used to be!
Np 1tx iām in no hurry. Iām actually stuck in Atlanta Ga right now anyways. On the way up here, (3 hrs) I had my wife read me saved posts from MP and others off of my iphone. I think I finally understand the beauty/simplicity/ of the LRC after listening to her read some posts I saved concerning this beast tamer. Funny how a change of setting kind of jargles the 'ol mind, now I just want to get back to my platform so I can see if Iām right or not. Anyways take care and thanks for the confirmation concerning the ānight gigā.
MP, quick hypothetical question for you. Grinding away on my tiny start-up micro account, making small gains but gains none the less, got me thinking. Despite the pain thinking causes me, I came up with a question that wonāt leave me alone:
If [B]you[/B] were to open a new micro account for, I donāt know, $250 or less, how long do [B]you[/B] think it would take [B]you[/B] to turn it into real money? Say, a couple/few/many grand per month? Iām not asking about the average trader here. I mean [B]you[/B].
Iām not quite that under-capitalized but Iām sure many a newb is forced into a tiny first account in this rotten economy. As per usual, thanks for all your help.