Squawk / 05 October 2016 at 14:13 GMT
Financial Systems Advisor / Quantitative Investments Inc
I should get up earlier more often, would seem 5:30am news provides reasonable opportunity
Feders Feders
Hello Qi2!, are you using I suppose this fxtime algo (I suppose because I read fx and you a lot!)?:

EURUSD rallies faster than GBPUSD rally, then EURGBP rises
EURUSD rallies slower than GBPUSD rally, then EURGBP falls

EURUSD falls and GBPUSD rallies, then EURGBP falls
EURUSD rallies and GBPUSD falls, then EURGBP rallies

EURUSD falls faster than GBPUSD falls, then EURGBP falls
EURUSD falls slower than GBPUSD fall, then EURGBP rallies

If yes, how do you define "rallies faster", "rallies slower" and plain "rallies" in those scenarios?
I'm really new in all of this, but I think this algo can be apply without knowing much of this universe.
Today I found a way to get market data(although 20 minutes delayed) into an Excel spreadsheet, and there I would like to play with this algo.
First doubt I had was those definition of "rallies", the second was how many minutes between readings should I set up, 5, 10 , 60 minutes? I don't know.
Thank you in advance, very much!. Regards
Qi2 Qi2
Hi Feders, yes I use the fxtime outline to create my algorithm. It can work on any setting, I actually trade it on a 5 minute chart, but this can cause overtrading, because to the price change can mislead you in such a short timeframe and a computer is much faster and realizing the change and taking a position or closing a position. You can trade it manually on a 30 minute chart quite easily, please make sure that the GBPUSD the main one you watch (when opening a trade) as it usually moves faster than EURUSD. Several of us who trade it look for the GBPUSD to be moving at least 2 times faster than the EURUSD before we enter a position. When using this algo, it is the rate of change in price we pay attention to and then 1 of the 6 rules above will apply :)
Nanaos Nanaos
Hello Qi2. Thank you for all your posts you share info about your trading. From the screenshot above I can see that you have some exit rules implemented in your algo. Can you please tell what are they? Thank you!
Qi2 Qi2
Hi Nanaos, it depends on the timeframe I am trading, I prefer 9:30am EST to 11:30EST, then I use and 11 pips stop with 5 pip TP, however, given how the algo works, its can execute a 5 pip TP and enter a new positions within 250 milliseconds, so I don't loose pips by using this idea. If you are manually trading it, I would suggest more patience and let the trade work. For example I trades it this morning, my long entry was at 0.89938 and close at 0.90268. Are you trading with an algo?

Have you read the fxtime articles? https://www.tradingfloor.com/posts/may-the-force-be-with-your-algo-7928840

I think in your time zone you can trade the UK/European markets and so I would use a specific timeframe range as my SL, for example, 8:30am BST to 9:00am BST. I seem to think fxtime has a additional information in his article, maybe in the charts, I seem to think the TP can be as high as 45 pips..
Qi2 Qi2
I'm not sure if this will help, but I drew a line at 8:30am BST (candle open) and at 9:00am BST (candle open) and use that range as my SL setting, in this instance it is 13.5 pips.
Qi2 Qi2
No idea if this chart helps you, but I have EURUSD (Green/Yellow candles) and GBPUSD (Red/Green candles) on one chart, then on top that chart, I placed the EURGBP, I thought this might help you see the movements?


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