Post your live Forex trades here...
- Thread starter xelite777
- Start date
The up trendline is apparently holding, so I guess you are betting on a reversal of some kind, at least in the short term.
+25 pips, moving stop to break-even.
AUD/JPY came less than 3 pips near my buy point and THEN moved 50 pips higher, without me.
Same scenario with GBP/JPY 2 days ago, came 3 pips near my buy point but it did not touch it (potential profit 75 pips).
All in all, I "lost" 125 pips (50 + 75) in unrealized potential profit in two days with these two clowns!
But it's not over, I will get you next time you two, and make you pay!!
What a comical thread.
DP is probably the most experienced and well versed options and arbitrage trader on ET. I can't believe Noobies debating Synthetics and Correlation, or any basic trading concepts with him.
WTF uses a short term chart to determine correlation between instruments. Not to mention if two pairs have a common currency, how can they not be correlated?
Only on ET, where anyone with an internet connection can portray themselves as expert's.
DP is probably the most experienced and well versed options and arbitrage trader on ET. I can't believe Noobies debating Synthetics and Correlation, or any basic trading concepts with him.
WTF uses a short term chart to determine correlation between instruments. Not to mention if two pairs have a common currency, how can they not be correlated?
Only on ET, where anyone with an internet connection can portray themselves as expert's.
That was my point in its entirety.
Thanks to you!
Yeah, sure, let's all believe anything a trader is saying, without questioning.
Let's just simply assume he knows EVERYTHING there is to know about trading, turn off our critical thinking and say "Amen" to every single word he is saying!
In other words, let's just act like sheep, baaaaaaa....baaaaaaa...baaaaaaa
What you just said is stupid beyond belief. You my friend are totally clueless!
If a scalper or a day-trader for example uses the 5 min charts to make trading decisions, he needs to know if the different currency pairs he is buying/selling at the same time are correlated or not correlated and to what degree exactly.
And since he is trading off the 5 min charts in this example, he CANNOT, repeat CANNOT use other time frames (like hourly, 4h, daily, weekly, monthly, yearly) to calculate the correlation. He MUST use the 5 min time frame and the 5 min time frame only or the results would be totally worthless.
Another stupid idea and a commonly accepted belief among currency traders. Your "guru" made the same exact mistake.
Here are the facts and the facts only.
Correlation depends on the time frame you are using. I will repeat that just in case: Correlation depends on the time frame you are using! And NO, just because 2 currency pairs have a common currency does not mean that they are necessarily correlated, positively or negatively.
Here is an example.
CAD/JPY is not correlated to AUD/JPY (correlation = -31.4%) on the 5 min time frame.
CAD/JPY is not correlated to AUD/JPY (correlation = 2.7%) on the 1H time frame
CAD/JPY IS correlated to AUD/JPY (correlation = 76.8%) on the daily time frame
CAD/JPY is not correlated to AUD/JPY (correlation = 14.7%) on the weekly time frame
Get it?
Now go back to sleep and next time make sure you know EXACTLY what you are talking about before posting and making fun of fellow traders.