Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

out at 29......not chasing at moment

 

[NVP]

Got back in selling cable eventually .....will be signing off soon as have to go out and ive made enough today now

thanks Cable !

N

 

[NVP]

looking at charts ....yellow YEN and grey CHF were stronger bulls to play against the bear red GBP ......but im more comfortable trading cable ....tighter spreads and works for me on these lower Timeframes

 

[NVP]

morning all ......good to see so many people around on the thread...thanks for looking

ok nice movement on the g8 this morning .......Euro and GBP nicely falling and Yen and USD bullish

PERFECT CONDITIONS .....

ive been in Cable selling and also EJ selling so far ......waiting at moment to go back into them

to be able to trade the market you have to be able to SEE the market first and chose your pairs .....

the FXCorrelator (and derivatives) allows you to look at ALL 8 of the currencies on whatever settings you want

load it for free in links below ........i created it some 20 years ago from the skeleton indicators loaded on the original Metrtrader site .......and some great programmer work I piggybacked ......

N

 

[NVP]

EJ resells interesting since 120.10 / 11
Cable from just recently 3017/18.....sliver of 1 winning scalp so far ......

 

[NVP]

3010 the low on cable ......that sucks .....Cable now back at 6am levels .....hmmmm
EJ bouncing at 119.94s .....been better

 

[NVP]

AUD coming south....means nothing better to do in live markets.....thats a shame for me

 

[NVP]

slow grind for me this morning......with GBP relatively quiet I have to go to other pairs to make money

EJ and a Sloooooow AU helped today (see chart) ............Watch for GBP pairs as it will take off later....it always does if quiet in morning session

N

 

[NVP]

Wisdom in Trading (as in life) only flourishes as one accepts how little they know .....only when one accepts and embraces their nescience can the path to wisdom truly begin.....

 

[NVP]

morning all ....

ok solid start to day ........yen is alpha bull and GBP fighting for dominance with cad on bear side .....

enough for me to pursue my favourite Cable so far

couple of scalps so far picking up the falls .....lets see where it goes

N

 

[NVP]

ok classic divergence /convergence play today so far ....

so I played out the divergence mainly on Cable and then sat out of the convergence phase .....

(well actually i didnt but I should've done really....I hate following my own rules ...my achilles heel)

anyway we can now see Cable trading above 6am levels ....so expect some buying opportunities .....or not ...who knows ?

notice NZD and AUD coming bear on an increasingly tight market......if usd stays bullish there will be a few pips on selling those dudes london session .....slow but steady ...so im watching / waiting...will go NZDUSD

UCAD also interesting ......but all scrappy really ..........

give me a nice steady Europeans bias vs opposing USD & Yen bias for a london morning anyway !

N

 

[NVP]

ok the BOE holds ............im just picking off the easy rebuy trades at moment

 

[NVP]

nice morning already on Cable .....smooth !

green USD is rarely the most divergent currency to play against red GBP .....but i know how to handle it and lower spreads for scalping than other more exotic pairings

N

 

[NVP]

3111/3115 interesting level on cable .....waiting for it to come back for rebuys

 

[NVP]

went in at 3114 ... but jees its tedious at moment .....

 

[NVP]

usd has drifted bull london session so i shouldn't really be attacking cable buys again .....

one day i will actually follow all my rules .......not sure when though !

 

[NVP]

hey guys ...heres brexit update

 

[Dentalfloss]

 

[NVP]

well well well .....what a glorious day in forex market ...excellent trending !

ive stayed mainly on Cable .....initial run was light from 6am ....then i stayed out mainly as it came back and retraced
then from around 11am GMT GBP went on a superb bull run and USD got bearish

ive been scalping upwards in a 80 pip+ bull run last few hous ...even a novice can make money then ....

have a great evening ....nice end to phase 1 of the brexit saga...looking forwards to much more in future as well

N

 

[NVP]

View attachment 273876

I traded that fall last few hours D........but great analysis on retrace off higher TFs at moment in jan for USD

look how inconsequential this USD price action actually is compared to other currencies volatility in last 6 weeks ....USD is a foil for the big movers at best ......I like using it when scalping though

N