Best Thread Correlation Trading - Basic Ideas and Strategies

tonight is football night......Basel vs Chelsea .......jees i'm torn who to support

N
 
normal service will resume at the weekend gang ............I cant seem to get my VPS up here in Swissieland and am busy anyway ......(yes seriously - its not all beer and shnitzels...and heidi)

N
 
Nikkei this morning and UsdJpy are divergent, a signal not to be ignored for the next days.
 
I would very much appreciate it if anyone could help me.I have downloaded the link that Jedster kindly provided [thanks also to Neil] for the FX correlator.I have also opened a demo account with Oanda .Can somebody please be kind enough to tell me how I use the software on Oanda .Do I have to copy and paste a file name if so where.I normally use IG Index as my platform and the concept of a MT4 platform is foreign to me .
MANY,MANY THANKS Nick.
 
C:\Program Files\MetaTrader 4\experts\indicators folder

Mike many thanks for your help.I am an utter idiot when it comes to the PC.How do I find the above.I am so sorry but I do not know how to navigate my way round the MT4 platform.Today was the first time I have ever downloaded one.I have always used a SB platform

So sorry for taking up so much of your time.Nick.
 
spreadbettingnurd said:
C:\Program Files\MetaTrader 4\experts\indicators folder

Mike many thanks for your help.I am an utter idiot when it comes to the PC.How do I find the above.I am so sorry but I do not know how to navigate my way round the MT4 platform.Today was the first time I have ever downloaded one.I have always used a SB platform

So sorry for taking up so much of your time.Nick.
Click to expand...

I would suggest that you google "MT4 tutorials". There are literally hundreds (probably thousands) of documents and videos, going through the MT4 platform. Spend some time familiarising yourself with the platform, how it works, what it does, what it doesn't do, etc, etc. Practise with it until you completely understand how it works.

You will not be able to trade at all, let alone effectively, if you are trying to jump through hoops just to grasp some basic concepts. I appreciate that may sound a little harsh, and I don't want to sound rude, but I am trying to point you into the right direction.

The reason I say that is, if you don't know what you are doing with the platform, you will be spending all your time working out "how to do it", instead of spending your time on actually trading. Further, you will end up at some point, with trades running in a pressure situation, and you will want to do or change something, and you won't know what to do, so you will panic, and then that will make it worse, and it can spiral out of control.

So, spend some time now; a few days, or a couple of weeks. Research the basic concepts and get a good and thorough understanding, and that will set you up well going forward.

J
 
Jedster, I use mt4 just to run the correlator on, i trade off my broker platform, I can have them both running at the same time without problem. Maybe this is what Nick is looking to do.
 
mike. said:
Jedster, I use mt4 just to run the correlator on, i trade off my broker platform, I can have them both running at the same time without problem. Maybe this is what Nick is looking to do.
Click to expand...

Yes of course, that is quite proper and many people do it that way. But if one is going to use any piece of software in the pressure situation of trading, IMO, you need to have a good understanding of how it works, so that you can react appropriately, and in a timely fashion, should some situation occur that is unexpected. Of course, if your trade execution is going through another platform, then the amount you need to know might be less, but you still should know fundamentally how the software works.

J
 
hey all

i'm back from Swissieland...............jees long week and a late one back last night

never mind - the wife has given me lots of chores today to ensure I dont get bored.....!

N
 
Jedster2001 said:
Yes of course, that is quite proper and many people do it that way. But if one is going to use any piece of software in the pressure situation of trading, IMO, you need to have a good understanding of how it works, so that you can react appropriately, and in a timely fashion, should some situation occur that is unexpected. Of course, if your trade execution is going through another platform, then the amount you need to know might be less, but you still should know fundamentally how the software works.

J
Click to expand...

Hey all.....

This has been a good set of post/exchanges about good old fashioned basic IT processes to get indicators working.........but as Jedster said there are literally millions of videos / posts and forums that cover this subject and I urge people to use them........

We've all been there...... and Jedster knows I continue to amaze him with my total lack of programming knowledge and IT naivity at times .......Horses for Courses I suppose :smart:

Never underestimate the need to spend time on all the basics of trading before you take the plunge with real money ......jees its hard enough when you are proficient in all execution processes ! :p

N
 
Heres the week .......

3 weeks of action now selling usd and Yen ....and Dow has climbed.....

some notable action buying NZD on these dudes

600 pips in fact (see right charts) ........but like in all trend/moves you would have had to be a Genius to get on early ......................or not ?

N
 

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Using Triads to determine correlations..

Hi Traders, good thread. Just too long to read the whole thing!! When talking about correlations.. Has anyone brought up that you really cant just correlate two pairs?

I noticed a few posts on this thread that suggests you should not go long on both GBP/USD and EUR/USD. Well, that is only part of the picture.. Currency pairs work in groups of THREE not two. I call them Triads.. There is a Very short video that illustrates this..
 
mornin all.........

ok I have been catching up on a lot of correspondance

1) from keen traders wanting to learn more about Strengthmeters

2) and also asking me about systems out there for sale and if they are ok


re 1) ........I will always try to answer what questions you have here and other excellent traders are also on-line to help and advise - just post here and we will answer you.........Jedster is an awesome trader and software engineer so his input is tremendously appreciated here as well(y)

BUT we dont offer $$$$$'s courses and indicators and sellinar based trading.....its not what we do in our own careers and lives...........and if we ever do then we will tell you ......sorry but we are busy people and its not on our agenda at this time


you have to understand that 2) is a little difficult for me as I am very aware of ALL the retail markets Strengthmeter products out there..........and have very very strong opinions on them.......naturally I have as I was doing this stuff since the early 2000's when forex Strengthmeters were not even heard of .........so I know and worked with some of the early pioneers (mostly all gone now) and watch the new entrants selling expensive "super" strengthmeter systems ....

so I have to be careful and cannot comment pubically for legal reasons ........I just done need the hassle :cool:

but if you contact me at [email protected] asking for opinions I will give it in that confidential environment as 1-1 e-mails .........so please use that route if you wish :smart:

meanwhile I am going to publish here 2 recent anonymous responses that show how I handle this for people asking for help and advice.........

N
 
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