EOD Pip Report
£$ ---
€$ -6, +14, +19
€£ -5, +4
£¥ +39
€¥ -13, +52, +7
$¥ ---
total +111
Strong downtrend in the Yen helped today, with most of it given to the Euro. Good start for the rejigged system parameters, but very helpful conditions.
Key: Vertical line on the left is 8am UK time
Arrows are Entries, Ticks are successful exits, Crosses are unsuccessful exits, Thumbs up & down are signals (and their exit) rejected through timing (e.g. lunchtime, or just before a major economic data announcement) or through poor personal judgment.
£$ ---
€$ -6, +14, +19
€£ -5, +4
£¥ +39
€¥ -13, +52, +7
$¥ ---
total +111
Strong downtrend in the Yen helped today, with most of it given to the Euro. Good start for the rejigged system parameters, but very helpful conditions.
Key: Vertical line on the left is 8am UK time
Arrows are Entries, Ticks are successful exits, Crosses are unsuccessful exits, Thumbs up & down are signals (and their exit) rejected through timing (e.g. lunchtime, or just before a major economic data announcement) or through poor personal judgment.
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Hi Till
I really can't be bothered explaining it until I have some solid evidence it works over a decent amount of time. Most of these posts are thinking out loud so I have some reference points if I want to look back on how it developed, and a record of what I was thinking or how I was reacting to certain conditions (badly mostly!).
Most likely it'll end up on the scrapheap with all my other hare-brained ideas (sure, today's results look good but any idiot can make money off a trending market) so it's best not to waste anyone else's time with it as well as mine.
It's largely based on a modified correlator, which is why I post the results over at NVP's thread, so if nothing else it'll give some idea of what use such indicators are.
Have a good weekend - Gavin
NVP
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hey mate
trade with the trend buying strongest currencies and selling weakest
as we know the FXcorrelator (the corrie) makes this a piece of cake and gives you helicopter vision
thats the easy bit and where I was over a year ago....loads of people telling me how great strengthmeters are (Jason Fielder still is right now
) but no one telling me what to look for or a decent system to use so I spent literally hundreds of hours watching for movements and currency dynamics both within the G8 and then as the G8 were impacted by market forces (mainly gold and DJ30)
I created my set of Fuzzy logic rules.....Fuzzy meaning they kinda work most of the time......theres no guarantee in trading !
and thats what I apply......simple rules what pairs not to trade against each other and what pairs to trade when you se certain dynamics....
we discuss these everyday over at my corrie thread so keep going as you will crack it Gavin......trust me and try to stop looking at pair charts as much as you do.....(difficult I know
) tear up the rule book and start to fill your screen with corrie charts.....soon you will start to see the patterns and then you just need the pair charts for entry and exit points (I dont even do that sometimes) sound crazy ...............sure it does......but you cant get half pregnant with the corrie
thanks for the template tip.......excellent
NVP
That's pretty much what this system does, but it's a case of finding settings that agree with your mindset, available time & trading style. Pair charts have to still be used for entry & exits, as a correlator shows you the general picture but not the specifics - e.g. the strongest currency isn't equally strong in every pair, and a trend that's obviously over on a pair chart won't necessarily show up on the correlator screen. The devil is in the detail!
