Correlation strategies

Posts: 1215 · #31 - January 28, 2020, 12:08:30 PM

Quote from: Resh1969 on January 28, 2020, 10:59:43 AM

I opened another set of trades using the same rules as before.

good strategy, using Sell stop or buy stop, in the sense of trading by setting a trap, how many TP and SL do you set?

Posts: 1414 · #32 - January 28, 2020, 12:29:30 PM

Quote from: Fxortrader on January 28, 2020, 12:08:30 PM

good strategy, using Sell stop or buy stop, in the sense of trading by setting a trap, how many TP and SL do you set?

50 sl 100 tp

Posts: 1215 · #33 - January 28, 2020, 12:31:24 PM

Quote from: Resh1969 on January 28, 2020, 12:29:30 PM

50 sl 100 tp

with Lot 0.05 with a capital of 500 $ does not drain margins? if I may know how much leverage are you using?

Posts: 1414 · #34 - January 28, 2020, 12:33:09 PM

Quote from: Fxortrader on January 28, 2020, 12:31:24 PM

with Lot 0.05 with a capital of 500 $ does not drain margins? if I may know how much leverage are you using?

1:500 on Paxforex

Posts: 1414 · #35 - January 29, 2020, 10:53:27 AM

I closed the previous set with 0 profit and placed a new set based on the daily candles.

Posts: 1414 · #36 - January 30, 2020, 12:58:43 PM

The GBPUSD trade was triggered but price reversed and hit the SL.

Posts: 1414 · #37 - January 30, 2020, 01:21:07 PM

Now I opened sell stop trades on GBPUSD, EURUSD, and EURGBP. I put the pending orders under the support levels on the daily timeframes. Since these pairs are correlated I'm hoping at least one of these will have a major move down and I can capture profit.

Posts: 1414 · #38 - February 03, 2020, 09:39:08 AM

The previous pending orders were never triggered so I deleted them. I opened a basket of correlated pairs. I'll close them out manually when profit is reached. Let's see how it does.