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I am still using the EA on a demo account and now can see the danger with some of the theory as I understand it. Hopefully Muddyguy can help me to apply a different style here.
What I find is that the trend on the EURUSD is strong and the eurusd is rising. But to earn positive swap I have the C4 setup to sell eurusd and buy gbpusd - which has also been going up.
On another C4 pair I am selling gbpusd and buying usdchf.
Therefore, any benefit of the hedge from the eurusd is offset because I am both buying and selling gbpusd at the same time
Given now I have entered a sell in a strongly postive trending market, I am down about 400 pips. To further make it worse all new orders are identical and only continue to add more DD to the account.
I think there needs to be some logic put in to trade only with the trend or to switch setfile based on trend or non trending markets. How do you advise running the EA in the market we have seen this week?
Hi,
Are you carry trading hoping for some positive price action as a side benefit, or correlation trading hoping for some swap as a side benefit. These are two distinct trading styles and you appear to have them mashed together. It looks like you want the correlation trade results, but are using carry trade (swap positive) set ups.
If you are correlation trading, you should be in/out of the trade (in a good trade) in hours. Swap is not an issue. Look for the correlation deviations. In a correlation trade it would have made no sense to take the EURUSD short recently as it has been on a strong uptrend.
If you are carry trading and wanting the EURUSD swap, it would have made no sense to even enter the market recently as it will take half a year to make up the drawdown with the current swap value. It would have been advisable to wait for a top in the EURUSD before entering.
It is not a problem if you have the GBPUSD in both directions. They are in separate trades and should be treated as part of a trading group, each managed individually. One group is the GBPUSD/USDCHF and the other is the EURUSD/GBPUSD.
This last week I would have taken only very small trades that are clearly in the direction of the trends. For example, I would have looked for EURUSD moves upward then watched for times when the USDCHF was also rising or hanging and starting to fall before I entered short. Or, I would have stayed out and worked my way through some of the backlog of beer that has stacked up from my yahoo group...
Are you carry trading hoping for some positive price action as a side benefit, or correlation trading hoping for some swap as a side benefit. These are two distinct trading styles and you appear to have them mashed together. It looks like you want the correlation trade results, but are using carry trade (swap positive) set ups.
If you are correlation trading, you should be in/out of the trade (in a good trade) in hours. Swap is not an issue. Look for the correlation deviations. In a correlation trade it would have made no sense to take the EURUSD short recently as it has been on a strong uptrend.
If you are carry trading and wanting the EURUSD swap, it would have made no sense to even enter the market recently as it will take half a year to make up the drawdown with the current swap value. It would have been advisable to wait for a top in the EURUSD before entering.
It is not a problem if you have the GBPUSD in both directions. They are in separate trades and should be treated as part of a trading group, each managed individually. One group is the GBPUSD/USDCHF and the other is the EURUSD/GBPUSD.
This last week I would have taken only very small trades that are clearly in the direction of the trends. For example, I would have looked for EURUSD moves upward then watched for times when the USDCHF was also rising or hanging and starting to fall before I entered short. Or, I would have stayed out and worked my way through some of the backlog of beer that has stacked up from my yahoo group...
Trade carefully,
Bill
Hi Bill
I thought I had the system configured to trade correlated pairs. It has a Take Profit of 80 set and it is trading the correlated pairs you mentioned before in earlier posts. Maybe I am still confused on how to set the system to trade correlated pairs.
1. If it should be in and out of the market in matter of hours, one must trade with the trend. Since there is no programmed stoploss but there is a programmed take profit, I assume it is programmed that you always get out in profit. Thus, trading with the trend it the way to do this - How do you determine the trend on correlated pairs?
What do you know if you get caught in counter trend - like it happened to me - no stoploss and now 18% DD?
Quote:
If you are correlation trading, you should be in/out of the trade (in a good trade) in hours. Swap is not an issue. Look for the correlation deviations. In a correlation trade it would have made no sense to take the EURUSD short recently as it has been on a strong uptrend.
Can you educate me on A. how you determine the deviations in correlation and how you determine which pairs to trade
B. What tool you are using to determine trend and strength of trend?
I am still very new to this and learning. I know I will not always win, even Bill lost over 1% last week in my managed account. So I do not feel too embarrassed by my noobness with this
That's like 2% return in 2 months. Granted, the market has been unusual lately. There are dividend stocks that pay better then this.
I agree. I have only been with GoFx for 2 weeks now, but in just this period of time I have actually lost 1.5% of the account. Let's hope it is only a market thing and not the method. Regardless, it is quite different from the website showing an unmonitored C4 program returning 500%+ in a few months.
I think that's correct, but my grid has a drawdown of $136.00. Price is moving toward the top of the grid, but still has over 100 Pips of room on the upside. Initially, I thought this difference might be a function of the negative swap, but that only accounts for a few dollars.
I agree. I have only been with GoFx for 2 weeks now, but in just this period of time I have actually lost 1.5% of the account. Let's hope it is only a market thing and not the method. Regardless, it is quite different from the website showing an unmonitored C4 program returning 500%+ in a few months.
Hi Confusedxx
Yeah, frankly, about 1 month ago, i was almost ready to open an account with them, but my "feeling" / analyse has driven me to a NO, right now.
So little profit ( or even some loss instead ) in such a tsunamied BUT very volatile hence PROFITABLE ( potentially ) market, makes me quite skeptical...
I agree. I have only been with GoFx for 2 weeks now, but in just this period of time I have actually lost 1.5% of the account. Let's hope it is only a market thing and not the method. Regardless, it is quite different from the website showing an unmonitored C4 program returning 500%+ in a few months.
ES, any comments? You seem to be quiet when it makes loss? Are you an IB ?
by my noobness with this
Very questionable.....
Linear Mode
