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  #53874  
Old Feb 3, 2010 11:53pm
joelcf's Avatar
My gun control is a steady hand.
 
Member Since Jun 2009
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Quote:
Originally Posted by Treefingers View Post
Amazing the unemployment rate going up being there is only about 17 people currently living in NZ. Maybe they include the sheep.
The NZ unemployment rate always seems to spike at the end of summer... must have something to do with Bondi Beach getting overcast and all the backpackers heading back to Christchurch

Quote:
Originally Posted by triger88990 View Post
if you don't paly with uchf, you should look at it like a leader to fiber.

simply saying usd/chf is the leader and eur/usd is the follower.

you will see a change in your trading,thats for sure,just play more with it and try to see the realtion leader-follower,hope that helps
Probably want to be careful with that one. Look at the volumes of each currency traded - particularly the swissie, and how much of its turnover is usd vs eur.

*edit* jesus christ this thread moves fast. 174 pages, 2617 posts to catch up
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Last edited by joelcf, Feb 4, 2010 1:13am
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  #53886  
Old Feb 4, 2010 3:12am
joelcf's Avatar
My gun control is a steady hand.
 
Member Since Jun 2009
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Quote:
Originally Posted by nasir.khan View Post
Those currency correlation are making me crazy i need serious help.

I know what they all say about correlations like Take the best setup etc, but i can't do it

i just end up messed in my trades when i see conflicting signals.
To be honest, the main correlation i see there is that there is nothing I would trade on either

(I assume it was some kind of entry/bounce from resistance type trade? you crazy kids with your touch trades and blind entries and nintendos!)


Quote:
Originally Posted by nasir.khan View Post
You recommended 6 pairs in this post.

So can you add 3-5 more ( having no effect on each other) in these pairs and what about Cable and GJ (i like them so much).
Well, I wasn't recommending those pairs per se, just saying that if I *had* to only watch six, it would be those. I watch pretty much everything that moves. Just keep in mind that they pretty much *all* affect each other in some way, to some degree.

The main criteria for me is volume. Volume means lots of buyers and sellers, so lots of transactions, so no sudden shocks. Volume breeds predictability, and predictablity makes trading alot easier.

But, if I had to expand my draft picks to double the charts...

The starting six
AUDJPY - yay risk aversion
EURUSD - low spreads, high volume, boring
USDJPY - get some movement in your charts
EURCHF - big bad swissie
USDCAD - me like oil. me like gold.
EURGBP - for all your cross-channel needs.

First round draft picks
GBPUSD - volume with nice smooth transitions
AUDUSD - Another big risk aversion pair that can give some great runs (think carry trade)
USDCHF - the little brother of EURCHF

Second stringers
EURJPY and GBPJPY is a bit of a wash. Either one is fine.
GBPCHF - kinda like EURCHF's little sister. I watch it, but rarely trade it because the signals are usually stronger on USD and EUR

Then you could add some ranging pairs:
CHFJPY - both francs and yen are driven by the same kind of flows, so trading them against each other can be interesting.

AUDCAD - kinda like the less refined younger ex-convict brother of CHFJPY that acts a bit wild and is missing a few teeth (like most canadians )

AUDNZD - choppier than OJ Simpson in gloves.
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Last edited by joelcf, Feb 4, 2010 3:41am
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  #53918  
Old Feb 4, 2010 6:21am
joelcf's Avatar
My gun control is a steady hand.
 
Member Since Jun 2009
More than 10 Vouchers  455 Posts
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Quote:
Originally Posted by nasir.khan View Post
Ok i will take the first 6.
Can I ask why you are limiting the pairs you watch? Those are the 'strong hands', I guess, but watching lots of pairs isnt a problem at all.. its only bad when you try and trade too many (either positively or negatively) correlated pairs.

(also, only just saw your pm sorry.. will have a think and shoot some ideas back tomorrow)
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  #53925  
Old Feb 4, 2010 7:04am
joelcf's Avatar
My gun control is a steady hand.
 
Member Since Jun 2009
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Quote:
Originally Posted by MattW View Post
How about AUD/CHF for even more crazy chop action
lol, I actually considered adding it - it essentially acts like a crazy stepchild of AUDJPY and USDCHF, but with a bit of commodity/china bipolar craziness thrown in for good measure. At the end of the day though, it just isnt actively traded enough for me to want any part of it. It seems like it would hurtle south at the speed of a light if a banker even called in sick with the flu.

You are a braver man than me!

(and the spread is horrendous, if you can even find it - I'd have to synth it, which is a whole new level of annoying and expensive)
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  #53934  
Old Feb 4, 2010 7:42am
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My gun control is a steady hand.
 
Member Since Jun 2009
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Quote:
Originally Posted by Riskee View Post
Possible Setup on Cable .....However it's on 30 MIN Chart , DBLHC ....Potential of upside momentum ...Any Ideas ??!!
This is the kind of chart I used to take a loss on. No more - as long as you recognise it is in a range, and you learn the game by playing the game*...

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* some smart guy said this once. forget who - he was pretty big, and talked kinda funny...
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