Miniebook

I had thoughts on this a for while,but it is definitely a work in progress. I would like to release a new mini ebook available for download of how i trade correlation successfully for the past year and this year.I will designed this for newbie trader (not so newbie) which they can hopefully follow. It will be a rough/raw first edition since it will my first ebook. I will include some screenshots but only a few so not to take too much space on fileservers and for a fast download.

Hedging with EURUSD

As i continued trading towards H1 Tf , i encountered several runaway trades. I found a solution , to hedge the trade with eurusd in a step towards diversification. My exposure on eurgbp alone is not a very wise action especially in the long run. Nowadays i do not only check the correlation between eurusd and gbpusd, but i also looked for eurgbp and gbpusd. In usual days i usually has eurusd and eurgbp trades running at the same time, but also when both in a different direction,ex buy eurusd sell eurgbp.
I not only reduce a lot of DD,usually i ended up in profit as eurusd profits is larger than eurgbp loss. In a better situation, i even have a profit in both eurusd and eurgbp making for a terrific week.

Experiments Result

I found it the hard way...at least on demo..yes you can big stop loss, but the actual grid must be 30 pip spacing between levels and 60pips above for tp since as soon as trend came you want to hold out on winners longer .Those stops above which is 200p will be hit but you have to make sure you have more profits than losers.