Best Thread Correlation Trading - Basic Ideas and Strategies

NVP

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morning all .....ok im nearly finished as other things to do today

USD has been bull all morning .....ive been buying it on bounces

sell wise its all been mainly GBP .....Cable is my favourite Pair ...especially london mornings ....yes i accept there are 27 other pairs but GU does pretty well most days so its always in my watch list

like today .....heres the 20ma basic fxcorrelator setting ...5min TF

for other reasons i was really hunting usd buys .....so i was waiting for greenback to be above the zero and gbp red below the zero .......

see when that reactivated ? ......and then BOOM !!! ....the 30 pip drop .........was i on that ?

yes .....because i was following my strengthmeter settings waiting for the sell triggers

have a good day ...i already have

N
 

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NVP

Legendary member
36,542 1,849
heres my free FXCorrelator indicator as requested again by a few of you recently ...ive also updated the PDF instructions and added a new video explaining how to load it ....

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

https://www.youtube.com/watch?v=6Qufo2tP3UE&t=187s
 

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NVP

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36,542 1,849
as a follow up i mentioned in the video that i am waiting for Cable to pop back into the 1.35's level again then look for a resell

and it came !

see below ...nice cable sell scalp worth 5-8 pips if timed correctly !!

have a good day - i have
N
 

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NVP

Legendary member
36,542 1,849
hey gang

sorry - ive been tied up on a start-up for a business friend .....

been trading this morning ..........from around 7am BST

its all about the Yen gang if you are trading ........its a bull train so far london

EJ sells has been very very nice so far and my lead pair to trade ......only GBPJPY has done better this morning for trending ....if you were using strengthmeters like my FXCorrelator to see that action

heres the 20ma FXCorrelator on a 5min TF ...........see why i liked the yellow yen buys and the Blue euro line sells ? .......4 nice setups there so far gang ...easy easy scalps

N
 

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NVP

Legendary member
36,542 1,849
hey gang

did anyone bag the resells on EJ ..........it was classic ?......around 128.80's now down to 128.35's

believe me it doesnt get easier than that using strengthmeters

N
 

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NVP

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hey all

all change this morning ......the yen has been selling off london session

euro and GBP have been the main buys so far ..........

so guess what i have been doing .........yep buying EJ

it can make things a lot easier to see trades gang .....if you use strengthmeter based tools like my FXCorrelator to support your trading

N
 

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NVP

Legendary member
36,542 1,849
morning all .........

im hitting yen pairs again so far london opens.......its been a good week for trading the yen so far

U/J and E/J are my main sells so far .........just looking for swing sells ........

euro and GBP are marginal sells .........im watching GU sells as well to see it it takes off

heres EJ so far on the london from 7am BST on a 1min ....a couple hit so far

i havnt got much of a window to make pips today as on some calls later...so will not post much ..........rushing is not a good way to trade .....but such is life....im old enough these days to just about do it ......

N
 

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NVP

Legendary member
36,542 1,849
never ever ever be rushed in your trading .it will all end in tears .....

ive been trading forex for nearly 20 years now so and can blag it normally when i am short of time

N

im selling EJ and UJ when i can ...watching GU sells...and also UCHF Buys ...
 

NVP

Legendary member
36,542 1,849
market is waking up now ...back later ..i need to cram a lot of pips into a short window so opening up more pairs for trading

N
 

NVP

Legendary member
36,542 1,849
stepping back on the hourly 20ma FXCorrelator ....

yen and USd are the buys ...........cad GBP and Euro are the sells

so you see i am playing to higher TF's for scalping at moment

thats not always true .........but works today

N
 

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