Best Thread Correlation Trading - Basic Ideas and Strategies
be-positive
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be-positive
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and that happened just before 10am (@52)
NVP
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gbp is all sell today ...........ive been chasing since early doors .....that 9.30 move was a peach
150 pips down on cable from early london but i havnt had all of those.....
on a standard FXcorrelator 20ma 5min TF the GBP was the alpha sell from the X's shown ....why be selling on anything else ?
easy if you have the right dashboards to watch
N
150 pips down on cable from early london but i havnt had all of those.....
on a standard FXcorrelator 20ma 5min TF the GBP was the alpha sell from the X's shown ....why be selling on anything else ?
easy if you have the right dashboards to watch
N
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NVP
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heres my free FXCorrelator indicator as requested again by a few of you recently ...ive also updated the PDF instructions ....
I developed this simple moving average based forex strengthmeter back in the early 2000's and have not changed one bit of it since.
Its my humble interpretation of some great open software work that was being generated by a few legendary MT4 programming pioneers at that time ...
Remember - back in the early 2000's the Trading and IT worlds were not like these modern times.....we were only just getting into using home based trading platforms and retail trading on small laptops and PC's !
Sure I have developed hundreds of variations and derivatives in the last 18 years - working with some great traders and programmers, but this is the daddy of them all ....and*still packs a punch !
the MT4 metatrader platform model is freely offered below and i hope it helps you on your trading journey ....its been downloaded several thousand times now across many big forums .....and I am humbled by the many kind traders who have sent me messages of thanks and support for its abilities over the years
Neil NVP:smart:
I developed this simple moving average based forex strengthmeter back in the early 2000's and have not changed one bit of it since.
Its my humble interpretation of some great open software work that was being generated by a few legendary MT4 programming pioneers at that time ...
Remember - back in the early 2000's the Trading and IT worlds were not like these modern times.....we were only just getting into using home based trading platforms and retail trading on small laptops and PC's !
Sure I have developed hundreds of variations and derivatives in the last 18 years - working with some great traders and programmers, but this is the daddy of them all ....and*still packs a punch !
the MT4 metatrader platform model is freely offered below and i hope it helps you on your trading journey ....its been downloaded several thousand times now across many big forums .....and I am humbled by the many kind traders who have sent me messages of thanks and support for its abilities over the years
Neil NVP:smart:
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NVP
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good morning on the markets..........the G8 changed dynamics just as london woke up
depending on how quick you realised that GBP was selling hard was the key .........and the second phase of selling cable 30 pips was easier than the first phase of 20 pips ........see chart below
i was on it from around 7.10-7.15 (phase 1) from other strengthmeter charts not shown .....cable is always my first port of call when i'm trading gbp .........easiest one and best spreads
GBP has continued as the weakest and usd has been the strongest currency all morning so far (luckily for me)...so cable is easily THE best play of all 28 pair combinations for London session so far
i rarely trade THE #1 currency pair trade for a session ..thats hard .....but i always aim to be in the top 3 pairs .....................thats all i need to make consistent money ...
now do you see why most traders lose ? ..........how are you doing by consistently choosing the top 10-15% of possible trades in the G8 at all times ? .....the Hell.....without strengthmeters.... traders dont even know if they are in the Zone or not !!
so remember ...each time you take a pair trade on the major 8 currencies you have JUST a 28/1 chance of picking the best one .......thats low low odds unless you are a good trader using the right tools
thats why using strengthmeter dynamics is sooo important ....to me anyway
N
what do i mean by 28 pairs ?...see the next post
depending on how quick you realised that GBP was selling hard was the key .........and the second phase of selling cable 30 pips was easier than the first phase of 20 pips ........see chart below
i was on it from around 7.10-7.15 (phase 1) from other strengthmeter charts not shown .....cable is always my first port of call when i'm trading gbp .........easiest one and best spreads
GBP has continued as the weakest and usd has been the strongest currency all morning so far (luckily for me)...so cable is easily THE best play of all 28 pair combinations for London session so far
i rarely trade THE #1 currency pair trade for a session ..thats hard .....but i always aim to be in the top 3 pairs .....................thats all i need to make consistent money ...
now do you see why most traders lose ? ..........how are you doing by consistently choosing the top 10-15% of possible trades in the G8 at all times ? .....the Hell.....without strengthmeters.... traders dont even know if they are in the Zone or not !!
so remember ...each time you take a pair trade on the major 8 currencies you have JUST a 28/1 chance of picking the best one .......thats low low odds unless you are a good trader using the right tools
thats why using strengthmeter dynamics is sooo important ....to me anyway
N
what do i mean by 28 pairs ?...see the next post
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NVP
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the G8 comprises of 8 Currencies .......
USD, EURO , GBP , YEN , CHF , CAD , NZD , AUD
we all know that the high volume of money/trades taken with the USD and or the Euro in them as a currency pairing is far in excess of the volumes re the rest of the currency pair combinations on a daily basis .........but thats not the point .....all of these currencies trade against each other 24/7 .....5 days a week
the USD pairs (crosses or majors) comprise therefore of 7 charts
GBPUSD , EURUSD, USDCHF , AUDUSD , NZDUSD, USDCAD , USD JPY = 7
now just keep moving to the next currency in the list and add in the possible pairs/combos left (always removing duplicated pairs already chosen in list)
you will get to 28 ......trust me
now all you have to do is ensure you are always trading the top 10-15% trade signals of the 28 paircharts available ............thats why i use strengthmeters to help simplify the selection process
USD, EURO , GBP , YEN , CHF , CAD , NZD , AUD
we all know that the high volume of money/trades taken with the USD and or the Euro in them as a currency pairing is far in excess of the volumes re the rest of the currency pair combinations on a daily basis .........but thats not the point .....all of these currencies trade against each other 24/7 .....5 days a week
the USD pairs (crosses or majors) comprise therefore of 7 charts
GBPUSD , EURUSD, USDCHF , AUDUSD , NZDUSD, USDCAD , USD JPY = 7
now just keep moving to the next currency in the list and add in the possible pairs/combos left (always removing duplicated pairs already chosen in list)
you will get to 28 ......trust me
now all you have to do is ensure you are always trading the top 10-15% trade signals of the 28 paircharts available ............thats why i use strengthmeters to help simplify the selection process
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NVP
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good US early session for cad so far .....cad index has put around 40 pips on the board so far
usd is flattish but still my main pair for cad action ...
ucad was already a serious bear lean so pretty easy choice for me to keep it rolling so far
the best dow open pair is selling GBPCAD....but i wouldnt trade that on lower TF's as to expensive on spreads
N
usd is flattish but still my main pair for cad action ...
ucad was already a serious bear lean so pretty easy choice for me to keep it rolling so far
the best dow open pair is selling GBPCAD....but i wouldnt trade that on lower TF's as to expensive on spreads
N
