What spreadsheet? Can you post ir here?
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Dont have one!
try this one http://www.freedomrocks.com/23596
this was post on post#214
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They already have fractal indicators and EAs coded on MT4!! it just depends on how you use them.
Sorry, I don't have an excel spreadsheet that does this, I just do it in the MT4 code, I'm still working on optimizing and incorporating "Equalization" lots. This may not be required if frequent Cash Grabs are taken since you will then recalculate all the ratios again based upon your new entry prices.
"Balance" and correlation
Just a quick, if not convoluted, question. As we all know, a large part of the profit from this EA (and other carry-type trades), comes from closing the positions when the combined profit reaches some TP point. The reason for this profit is that the pairs aren't perfectly correlated, and they can become "out of balance". Lets call this "out of balance" situation the "net profit/Loss", or net "P/L".
Ok, here's the question:
Does anyone know if the is a relationship between the net P/L and the correlationbetween the pairs? We would certainly want to enter the trade at some optimum time - when would this be? Does the net P/L relate to the correlation, and if so, what is the relationship? I would like to use the correlation indicator to optimize my entry. The indicator is embedded in the EA, but nobody seems to know how to use it optimally, or even at all.
To echo what another poster suggested (not sure if in this thread), it would be useful to have an indicator added that would show the net P/L.
Just a thought.
I've attached a hedge indicator that I wrote for the http://www.freedomrocks.com/23596 currency pairs.
It reads out in dollars profit or loss based on your entry point.
This is an update to the indicator I attached in post #214.
IMHO, correlation may be best used to determine what percent of your account you can put in the trade. As correlation approaches +1 or -1 you have less risk and may be able to stay in the hedge position longer and use more of your account while collecting interest (swap).
As correlation aproaches 0 (i.e.no correlation) that means you have a 50/50 chance of the hedge going in your favor OR going against you. This can provide more opportunies for cash grabs but you can't use as much of your account.
The default settings in the EA allow a range of 0.8 to 1. My guess is that if correlation is close to 1 expect less net profit (i.e. take cash grabs sooner) but you can use more of your account. There may be a relationship between correlation, number of lots, and profit for cash grab.
Actually you may end up with a cash grab at a fixed percentage profit, since higher correlation may allow more lots but a lower PIP profit target and lower correlation may allow fewer lots but a larger PIP target.
That's my two cents, I could be wrong.
Please feel free to correct any errors in my logic. Let's get this correlation thing nailed down!
How does the indicator work, is there any instructions on how to use it?
I did try out FreedomRocks Trial before.
I notice they have a calculator for calculating the number of lots to be enter by entering the prices of the currency pairs.
You have any idea, how its being calculated?