Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

but then of course GBP is knocking 7 bells out of everyone at this moment....

 

[NVP]

same charts with my cheeky scalp shown....

no I wasnt using this chart to scalp....it was a more detailed set of charts, as this stuff is far to fuzzy to call that sort of thing !

off again now - duty calls
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[NVP]

clear directionals at the moment on the 5min hyrbrids

Tag up
commdolls up
Eurotribe down

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[NVP]

sell G/E

 

[NVP]

scrap that i'll reset in a minute

 

[NVP]

go below .8671....I just want G to get rising and a confirmed Euro/Chf sell

 

[NVP]

jees ...hope you all on a 10 pips S/L this is a rodeo ride

 

[NVP]

as I sit here watching the losses mount i went in on 1mins as euro and chf went south and GBP went north....then sure as eggs is eggs GBP fell rapidly....may as well let it play out

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[NVP]

now on 1mins they are all rising...I could catch a break and see the higher volatility of GBP still make me the E/G sell as it fly's upwards faster than Euro

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[NVP]

classic trading desicion....cut and run for 6-7 pip loss or ride it out.....

 

[NVP]

this is what I was trying to do......I should've waited for the GBP to have confirmed a HH above the dynamic resistance line

my get out was all eurotribe chasing upwards with GBP traditionally moving faster upwards....which still delivers some minor E/G sell activity

if GBP falls and Euro/Chf rise ive messed it up.....my worse case 25% scenario as I got both directions wrong

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[NVP]

see !

my trade is saved as one of my backup moves (all eurotribe move upwards) and delivers me rescue pips as thats still a E/G sell move :

my 75% probabilty of b/e or very small loss works - saved !

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[NVP]

and thats it folks (no trade there now)....when I do get time to look its all about all the G8currencies lining up.....so I wait until something else comes up....on the 1min and 5min TF's theres usually another bus coming along soon

I should eventually get to about 10 plays in the trading book to look for and that should do me

gotta scoot - later
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[NVP]

as I leave

commdolls down
Tag down
eurotribe up

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[GMP]

Here's a Correlator tip for everyone: Make Sure It's On The Setting You Think It's On
http://www.trade2win.com/boards/trading-journals/91616-icc-forex-system-testing.html#post1115184
It's people like me who give amateurs a bad name:cheesy:

 

[NVP]

for those that are probably a little unfamiliar withthe whole thread I hope this helps explain things a little better re the current race between Euro and GBP upwards on the 1mins

if they both keep climbing (no reversals) my money would be on the GBP winning the race (it is traditionally more volatile)

you could make it easy though and simply buy one or other against any falling currency left in the pack :smart:

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[NVP]

H all

mega cotton push this morning so will be tied up....will try to pop in later and will be continuing my documentation over the long weekend re the correlation trading systems ....the haze is lifting as I continue to play with some final ideas like the ones recently paraded here....

it was how I presented it all clearly and concisely that was bugging me :smart:

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[NVP]

mornin al.......

after a great tag fall yesterday and ovenight....Ihink the train is slowing....give it a little more tlme........... 7am could signal the big swing back...yen is taking some persuading

or not

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[NVP]

commdolls look strong on the 5min charts......so they may not give ground if tag rise

 

[NVP]

commdolls look strong on the 5min charts......so they may not give ground if tag rise

scratch that comment


ALWAYS REFRESH ALL YOUR CHARTS BY FLICKING THE TIMEFRAME BACK AND FORTH BEFORE YOU START TRADING

N