Best Thread Correlation Trading - Basic Ideas and Strategies
fx_phantom
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Hi DJ or Tose,
I have a few ideas, could you help me with these modifications to the Super Corrie FX Correlator please?
1. Could you enable the "Levels" under the Level Tab to be displayed.
2. Please see my screenshot: http://screencast.com/t/LosEH0Yo5U
3. Would it be possible to have a True / False audible alert when there are 3 Arrows up or Down like a Slot Machine please?
Cheers
FXP1
Hi Neil and the rest,
have you recently been taking a look at T101's basket trading system and Orest's indicator that have been developed over at the other forums? I haven't caught up yet with all the discussions, but since the basket system is also based on relative strength, there might be some interesting ideas.
I know it has been mentioned earlier in this thread, but don't know how the discussion evolved.
Till
have you recently been taking a look at T101's basket trading system and Orest's indicator that have been developed over at the other forums? I haven't caught up yet with all the discussions, but since the basket system is also based on relative strength, there might be some interesting ideas.
I know it has been mentioned earlier in this thread, but don't know how the discussion evolved.
Till
NVP
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Hey Till
good to talk ..........
I havnt looked for a long time at that stuff as it was mainly EA and I'm more a semi automatic system follower these days.......
(get automated signal - interpret it against correlation conditions and then decide to trade or not)
will have a look though this weekend
hope all is well and you are not to busy at work
N
Hi Neil,
Orest's indicator is really just an indicator, you need to install it like an EA but it doesn't open any trades. It needs to be installed like an EA because Orest wanted it to update itself every 2 seconds whereas an indicator can only update itself on every tick that comes in on the chart it is attached to.
They do have tons of other indicators like "BasketBars", sums up the movement of your total basket value but also relative strength indicators of the buy and sell currencies that are contained in the baskets.
Well, there are a few EAs in the threads but I'm unsure about them, they seem to be unmaintained and the original authors are long gone. As far as I know, the latest incarnation is the BasketBull EA which is discussed in the alpari.ru forums, but since I don't speak Russian, I only understand half of their ideas.
Either way, most of the stuff is about relative strength of currency pairs. I attached a screenshot of Orest's indicator. It looks a bit cluttered but in essence it does the same as the FX corrie. The only difference is that basket trading is strictly about pairs, FX corrie is about currencies.
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NVP
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Hi all
hmm.......call me old fashioned but I did a simple set of contras on those sets of trades on the T101 and it left me with :~
Buy USD / Sell JPY
Buy CHF / Sell Euro
and thats the system..........
and yes I am well aware of the the eternal and ongoing arguments about whether trading a basket of currencies is the same as seperating and contra-ing the obvious pair matches within them (i'll grant you that this is different - but only if the weighted bets applied to the seperated pair cominations are different)
just me I suppose then - as a lot of people dig this system .........
N
http://www.forexfactory.com/showthread.php?t=107119
NVP
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heres last week through the eyes of my 2 top arrows in the triple corrie I use here
4h 20/1 and the 1h 20/1 ....the 15m on a 14/3 will line up with these guys when the timing is right
with the dow30 (shown below) falling through the week we were primarly hunting tag buys selling anything that fell our path as triple sells
not rocket science was it ? :smart:
Monday - GBP and umm perhaps the Euro ?
Tuesday - Eur and NZD early on then Euro and GBP later on
WED - EUR and GBP - AUD appeared as well.scrappy day though
THUR - AUD and a Euro sell to die for
FRI - AUD and a minor CAD skirmish sell.....
patience and a little correlation strategy re incorporatng the Dow30 bring rewards...this system will not make you a millionaire though as it uses a higher 4h TF - and with only 3-4 signals at best a day regarding the Tag plays with the dow and say a 2% max bet per trade you are missing a lot of trades on lower timeframes using faster variations
but I use it here to explain and help demonstrate what stengthmeters can do as an INDEPENDENT indicator aside from its more common applications supporting pair chart signals
N
4h 20/1 and the 1h 20/1 ....the 15m on a 14/3 will line up with these guys when the timing is right
with the dow30 (shown below) falling through the week we were primarly hunting tag buys selling anything that fell our path as triple sells
not rocket science was it ? :smart:
Monday - GBP and umm perhaps the Euro ?
Tuesday - Eur and NZD early on then Euro and GBP later on
WED - EUR and GBP - AUD appeared as well.scrappy day though
THUR - AUD and a Euro sell to die for
FRI - AUD and a minor CAD skirmish sell.....
patience and a little correlation strategy re incorporatng the Dow30 bring rewards...this system will not make you a millionaire though as it uses a higher 4h TF - and with only 3-4 signals at best a day regarding the Tag plays with the dow and say a 2% max bet per trade you are missing a lot of trades on lower timeframes using faster variations
but I use it here to explain and help demonstrate what stengthmeters can do as an INDEPENDENT indicator aside from its more common applications supporting pair chart signals
N
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NVP
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this is an interesting post from Boris........bumble around like a drunken sailor until it starts to make sence...........
jees sounds like i am following the route to success after all
haha
N
How Do You Succeed In This Business?
He was like so many eager traders I've seen before. A well groomed, earnest young man who looked at me expectantly as crowds of people swirled around us at the annual Dubai forex trade show.
"Tell me," he said, "how do you succeed in this business?"
Normally I would have launched into my stock answer about learning the key economic calendar events of G10, the importance of following the latest news and the need to practice on demo account. Blah. Blah. Blah.
However, something about the guy touched me and I replied with complete honesty.
"Want to really know how to trade?" I asked rhetorically.
"There is only one way. You open an account and just trade."
"But what about education, what about training?" he asked surprised at the bluntness of my answer.
I smiled and shook my head."If you were studying to be a lawyer, a doctor or an engineer, that would be the way to go. But trading is different. In trading you need to do first and learn later. Until you've done one thousand trades you can't even begin to understand this game"
Trading is indeed different. It requires practice first and education second. That may seem counterintuitive but it is not. Trading at its core is the discipline of learning to minimize your mistakes. \Trading is such an unpredictable endeavor that it can never be taught in formulaic way like engineering. In trading professional perfection is impossible even if you know all the proper rules.
To master trading you need to experience the frustration of selling when you meant to buy, the utter shock of an instant three hundred point price move against you, the annoyance of seeing the spreads widen just as you are about to reach your profit target and a million other little disasters that they never tell you about in trading school.
Most importantly you need to learn about yourself. What mistakes will you make when you trade? Will you trade without a stop? Will you add to a losing position? Will you trade in revenge for an unexpected loss? Will you rush your entry? Will you exit too soon? Will you do all of this and more?
Only after you've traded blindly for a while can you begin to understand what it takes to succeed in this business. And only then will you become receptive to a proper trading education. Trading is first and foremost an exercise in psychology and although many gurus will promise to provide you an ironclad mindset, the truth of the matter is that this skill can't be taught. Confidence comes from competence and competence comes from endless rounds of practice and thousands of mistakes.
So if you really want to learn how to trade just trade. And keep trading and trading and trading and just like a baby who stumbles hundreds of times before he finally finds his balance and learns to walk, you will eventually begin to master the market.
jees sounds like i am following the route to success after all
haha
N
How Do You Succeed In This Business?
He was like so many eager traders I've seen before. A well groomed, earnest young man who looked at me expectantly as crowds of people swirled around us at the annual Dubai forex trade show.
"Tell me," he said, "how do you succeed in this business?"
Normally I would have launched into my stock answer about learning the key economic calendar events of G10, the importance of following the latest news and the need to practice on demo account. Blah. Blah. Blah.
However, something about the guy touched me and I replied with complete honesty.
"Want to really know how to trade?" I asked rhetorically.
"There is only one way. You open an account and just trade."
"But what about education, what about training?" he asked surprised at the bluntness of my answer.
I smiled and shook my head."If you were studying to be a lawyer, a doctor or an engineer, that would be the way to go. But trading is different. In trading you need to do first and learn later. Until you've done one thousand trades you can't even begin to understand this game"
Trading is indeed different. It requires practice first and education second. That may seem counterintuitive but it is not. Trading at its core is the discipline of learning to minimize your mistakes. \Trading is such an unpredictable endeavor that it can never be taught in formulaic way like engineering. In trading professional perfection is impossible even if you know all the proper rules.
To master trading you need to experience the frustration of selling when you meant to buy, the utter shock of an instant three hundred point price move against you, the annoyance of seeing the spreads widen just as you are about to reach your profit target and a million other little disasters that they never tell you about in trading school.
Most importantly you need to learn about yourself. What mistakes will you make when you trade? Will you trade without a stop? Will you add to a losing position? Will you trade in revenge for an unexpected loss? Will you rush your entry? Will you exit too soon? Will you do all of this and more?
Only after you've traded blindly for a while can you begin to understand what it takes to succeed in this business. And only then will you become receptive to a proper trading education. Trading is first and foremost an exercise in psychology and although many gurus will promise to provide you an ironclad mindset, the truth of the matter is that this skill can't be taught. Confidence comes from competence and competence comes from endless rounds of practice and thousands of mistakes.
So if you really want to learn how to trade just trade. And keep trading and trading and trading and just like a baby who stumbles hundreds of times before he finally finds his balance and learns to walk, you will eventually begin to master the market.
NVP
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so Ireland are sqwarking (c'mon guys own up...the chocolate is on your face ) and now Portugal are crying wolf.........here we go guys stand by for some serious Euro action this week :smart:
she's been a little bullish recently after a disasterous couple of weeks....but here is a key support/resistance Line I am watching for on the 1hm Corrie on a 500/1 ....if the Middle dotted blue line doesnt get breached back upwards the flood doors will open down to that lower level I think.........
See how multi-flexable the FXcorrelator is ?............use it to show trends using single or multiple (lower) ma settings on single charts or the new triple arrow corrie, or just go more Naked and use a high ma setting (500+) and watch the currencies move up and down real time with no distortions to allow price action analysis....
your choice....I use both
N
) and now Portugal are crying wolf.........here we go guys stand by for some serious Euro action this week :smart:she's been a little bullish recently after a disasterous couple of weeks....but here is a key support/resistance Line I am watching for on the 1hm Corrie on a 500/1 ....if the Middle dotted blue line doesnt get breached back upwards the flood doors will open down to that lower level I think.........
See how multi-flexable the FXcorrelator is ?............use it to show trends using single or multiple (lower) ma settings on single charts or the new triple arrow corrie, or just go more Naked and use a high ma setting (500+) and watch the currencies move up and down real time with no distortions to allow price action analysis....
your choice....I use both
N
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NVP
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NVP
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thanks for all the private messages and the queries sent to my [email protected] address
If I had a set formula and system that delivered constant pips just by doing it then I would perhaps be contemplating a full bells and whistles publication/package that would be at a "reasonable price" (reasonable for me that is) with "bonus" features and lots of nice comforting pictures (50+ distingished people looking at laptops in a piazza or perhaps you prefer the terrace view overlooking the sea pictures perhaps?....with coffee brewing ?) and even if you were extra good i'd guarantee the system (proof of your usage against impossible spreads would be needed for money back of course )
seriuosly though - sure I have a lots of ideas and plenty of work in progress, but if truth be told most of my trading is around fuzzy logic and just feeling what I see on my (to many) congested charts...............its about finding what you like to look for and going for it when most things line up
find what works for you (it will take a long time I promise as you need to look and try whats out there before you stick ) and then practice / refine / practice / refine
good hunting !
N
If I had a set formula and system that delivered constant pips just by doing it then I would perhaps be contemplating a full bells and whistles publication/package that would be at a "reasonable price" (reasonable for me that is
) with "bonus" features and lots of nice comforting pictures (50+ distingished people looking at laptops in a piazza or perhaps you prefer the terrace view overlooking the sea pictures perhaps?....with coffee brewing ?) and even if you were extra good i'd guarantee the system (proof of your usage against impossible spreads would be needed for money back of course )seriuosly though - sure I have a lots of ideas and plenty of work in progress, but if truth be told most of my trading is around fuzzy logic and just feeling what I see on my (to many) congested charts...............its about finding what you like to look for and going for it when most things line up
find what works for you (it will take a long time I promise as you need to look and try whats out there before you stick ) and then practice / refine / practice / refine
good hunting !
N
