Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

he yall

gotta fly - will post perhaps at the weekend

N

 

[londonprince]

Hello NVP

You are doing a great job by helping traders comunity, keep up the good work. i have been trading for past 1 year & following your fxcorrelator method for past 1 month. i try to practise 5 &1 min scalp & triple arrow system at the movenment i am kind of breaking even. But i think this method has lots of potential and i need more practise, what do you think how much practise will i need to be profitable and trade for living ?

i also this think fxcorrelator has Spagaatti lines & arrows but what would be missing is strength numbers one similar to this Henry's stregnth meter where it shows numbers.
Have you tried this?

http://www.currencystrengthmeter.com/

Thanks
Imran

 

[NVP]

Hello NVP

You are doing a great job by helping traders comunity, keep up the good work. i have been trading for past 1 year & following your fxcorrelator method for past 1 month. i try to practise 5 &1 min scalp & triple arrow system at the movenment i am kind of breaking even. But i think this method has lots of potential and i need more practise, what do you think how much practise will i need to be profitable and trade for living ?

i also this think fxcorrelator has Spagaatti lines & arrows but what would be missing is strength numbers one similar to this Henry's stregnth meter where it shows numbers.
Have you tried this?

http://www.currencystrengthmeter.com/

Thanks
Imran

hey imran

spagetti lines ? ................i've heard it called worse

sure i'm a big fan of henrys indicator and theres a few out there that are useful regarding actual strength value.......remember though its a one dimensional indicator (like my triple corrie) as it has no history or trending so I would recommend to use it alongside my corrie with the corrie showing the trend and Henry's indicator showing your preferred ranges of trades to ensure you are not to overbought/oversold or perhaps to neutral before you go in on the trade

combine/experiment and use whatever you need to do...........we are all individuals and I can assure you that 1 size of ANY indicator or system out there will suit you for long unless you customize it.........its like a suit .....you have to try a lot on until one fits perfectly !

with regards to the trading time to profitability theres no answer - Hell i'm the most inconsistent trader on the planet (whenever I do get a chance to trade) as I never follow my own rules for long and am always playing with settings and correlation rules

just make sure you have complete and unemotional control over your allocation of trading funds (max 2% per trade regardless of how good a trade looks)

make sure you treat yourself to the BEST signals and dont sell yourself short on lesser signals because you are bored

give your trades more room to breath..........difficult in scalping but the main error most traders use is the S/L's are to to tight - you are paying the salary of the top 5% sucessful traders by blindly going 10 pips or placing stops right on those S/R levels so get smarter and think about it more :smart:

lance beggs (yourtradingcoach.com) is my guru on price action

and just keep practicing
N

 

[NVP]

The boys on recent risk plays

I use the dow (us30) to be my VIX indicator......may switch though one day if I can get it down to 1 min charts on a reliable feed....

N

 

[NVP]

hey RRavic

a personal thanks here again .....you are a genius !

N

 

[NVP]

markets are tricky dicky this morning so far.........eh ?

I had a early G/U scalp around 7am this morning and no bites since (although I was not at my screen much since)

N

 

[NVP]

jees - mt4 platform is sloooow this morning

or it could be my remote link

n

 

[NVP]

dammit - ive lost connection and switched home pc off in process

nothing more from me today gang .......sorry

N

 

[Graff]

Hi Neil. I still have great trouble with determination flat zones. Can you help with that?

 

[NVP]

Hi Neil. I still have great trouble with determination flat zones. Can you help with that?

Hey G

define flat ......do you mean sideways / consolidation ?

N

 

[geturkt]

Hi NVP,
Thank you very much for all your efforts. I started to demo it on M15 charts today. I had +281 pips in 5 trades without any losers. Let's call it novice luck for the moment but I see great potential in this indicator.
cheers

 

[NVP]

Hi NVP,
Thank you very much for all your efforts. I started to demo it on M15 charts today. I had +281 pips in 5 trades without any losers. Let's call it novice luck for the moment but I see great potential in this indicator.
cheers

Hey G

my pleasure..... :smart:

if you were following the triple arrow rules/indicator for yesterday with some correlation confirmation on the Dow I can assure you it was not luck - see below

keep it up , thats a great start !

N

 

[NVP]

hey all

for all of you that follow other forums (like forex Factory and TSD-Forex)

dont worry that i've ceased posting there...i'm just focusing more on my own trading and supporting this thread where I've made my home

N

 

[NVP]

I agree......its not if the Euro will break up

its when !

and then its party time for currency traders :clap:

N

http://www.ft.com/cms/s/0/85b62490-...il/20101123/nbe/Comment/product#axzz1663POSOl

 

[Graff]

Hey G

define flat ......do you mean sideways / consolidation ?

N

Hi Neil.
As for me flat zone is when price moves right instead of up or down. Like that:

 

[NVP]

Hi Neil.
As for me flat zone is when price moves right instead of up or down. Like that:

ok understood

consolidation , Sideways , Flat all the same term..........

let me come back later on this as it represents a high percentage of the time for most individual currencies and pair charts

short answer is dont trade till a decent trends resumes........and remember if you trade on breaches up or down you run the risk of whipsaws untill the move up or down is confirmed by some HH and HL's for rises or LL and LHs for falls (basic price action)

consolidation is where most newbies lose all their hard earned wins from the better traditional trend trades !

N

 

[NVP]

sloooooow morning really

just had a nice fall on Euro but the tag have been flattish so far through most of the london am session so not helping any moves

and my link just crashed again as I have some very meaty FXcorrelator hybrids running

so i'm out of play for the afternoon

such is life.........
N

 

[NVP]

got in again..........

jees bye bye Euro !!!

 

[NVP]

settling into a nice Tag run upwards here........with chf finally supporting tag in a (unload) risk play

Euro , AUD and CAD are on the sell money so far........

Euro's been in trouble basically since early hours of the 22nd and its getting worse by the minute

N

 

[NVP]

euros stampeding towards a huge support line on 11th november so watch out (see 4h below 500/1 corrie)

perhaps my holiday money is looking better for december ?

N