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Showing posts from 2017

A review of my one month FOREX trading experience

In Charts and TablesMy first month trading FOREX trading is now complete and as expected (but definitely not wanted) my account balance has gone down 52%. I have done a total 115 trades which equates to about 28 trades per week.Trade History export to CSV MetaTrader must have been designed by geeks for geeks as there is no export to CSV/Excell. Fortunately I am such aforementioned geek and created a script for this purpose. On the bright side is I expected to start learning MQL at some point so this started that process. You can find my script at this link: MetaTrader Export Trade History to CSV.Lossing vs Winning Trades I did really great in the first week, perhaps it was luck perhaps it was new trader confidence. Looking back at the trades I seldom had a stop loss, had a generous stop loss in place, or kept adjusting it, and I recall leaving the trades alone then coming back to them seeing profits and just setting a trailing stop loss; I can possibly confirm this by looking how the or…

Least Correlated Forex Currency Pairs

Minimizing risk trough Un-correlationThe number of possible major/minor currency is large and trading currencies that are correlated logically increases risk. My Google search for least correlated Forex pairs came up empty so I decided to run the analysis myself. Using information from this list on Oanda I created a JS script that would loop through the table entires and return the least correlated pairs based on the 1 year value. To my surprise I had to permit high correlations of >0.80 for the major currencies, and >0.95 for the major and minor currencies together to get values returned.Major Currencies ["AUD/USD", "EUR/AUD", "EUR/CHF", "EUR/GBP", "EUR/USD", "NZD/USD"] Major + Minor Currencies ["AUD/CAD", "AUD/CHF", "AUD/HKD", "AUD/JPY", "AUD/NZD", "AUD/SGD", "CAD/CHF", "CAD/HKD", "CAD/JPY", "CAD/SGD", "CHF/HKD&quo…