Best Thread Correlation Trading - Basic Ideas and Strategies

NVP

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hey all ......

ok sterling has flattened last day or so ......nothing much there since early weeks action

yen sells the last last 2 days .....

have a good day ...im chilling and listening to a lot of trading podcasts ..also doing some mindset work ....

N
 

NVP

Legendary member
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hey all.....

its difficult to trade in the canaries as i have some dodgy internet access and god knows what the cyber security is.....

anyway gbp looking bullish now so i would be playing nto sterling bulls ...

will be working on my courses this vacation and also getting a chance to talk to a lot of traders

N
 

NVP

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interesting post from elsewhere...............my take on mentoring and so called experts ....

beware that most track records (for mentors and vendors) can be faked .....i would also recommend you also see where the trader has been active in forums over the years to ensure they are the real deal ...........someone who appears out of the shadows with no media / forum exposure and then offers to mentor with a "decent" track record they produce is to be viewed with extreme suspicion.......i would then only work with them if they offer some real time results in a honeymoon period of say at least 20-30 trades ..........preferably more ......so you can see for real whats happening ...no faking

I personally dont produce anything to people who want to work with me these days .......they know me from here and my other forum activity and my other media areas over the last 10-15 years......i can direct them to some historic live calls here at times when i was calling live and producing reports ......but even then i tell them my systems evolve over time so i'm probably not trading those systems anymore ......no b*llshit....

these days if someone chooses not to work with me then good luck to them ...I just try to advise them of the stuff in bold above so at least they have a chance of learning something from a half decent and reputable mentor

N
 

NVP

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hi there .........

I'm using a mates platforms and internet this morning in the canaries ....... slow stuff......
sterling and AUD selling so far ....yen and usd mainly bull .....
but peanuts around .......

the week has been pretty good ......strong moves from yen and USD with selling on CAD GBP and Euro at times
easy money trading the 1 hours ......

heres the weeks action on top chart (fixed start from monday) and a 20ma FXCorrelator showing how much time the bold (yellow) yen and (green) USD spent above the zero

N
 

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NVP

Legendary member
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heres VP (no relation).......talking about Mentorship

ICT was a guy i followed myself a few years ago......a few interesting things learned from him but eventually i moved onto new mentors and other trading ideas.......he was a real ball breaker when people challenged him so was real entertaining ....something not to be recommended though......

anyway VP makes some really interesting points about mentoring .......and a lot of things in there regarding how I feel when i help people ....

Summary

Take Responsibility for your Trading ......no one else can do that, or cares !
Use multiple sources of information and training and ideas to create your Edge.....and always be adapting and learning
treat any mentorship relationship with the courtesy, professionalism and respect it deserves
do not expect the mentor to spoonfeed you or give you some kind of special services...you are not special

take these steps and you should do just fine ....

N

 
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NVP

Legendary member
36,150 1,760
morning all ....my last week in canaries ....trading on a mates monitors today ...using my laptops

ok its been steady buying on GBP pairs this morning .......for example i was happy buying from 2990 upwards on Cable and its hot 3004s so far ....

HOWEVER

GBP dumped some 200 pips last week so 'im also looking to see if i can swing some sell trades at some point this week on GBP pairs of higher TFS .....

GBP has already hit some 60 pips bull this week from asian opens .........thats a decent retrace already on last week for many GBP pairs .......which are flagging up resell opportunities...

this is the wonderful paradox of trading ...........always at least 2 sides to any situation .....

have a good day
N
 

NVP

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heres a few interesting plays ...although the speads can kill you



at this moment i would be watching the following pairs on the 5mins



EURCAD (5090) rebuys potentially soon

USDCAD (3426) rebuys potentially soon
 

NVP

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cable fell back to 3066 earlier but i missed the rebuys ....dammit

it got back up to 82 but its not holding ..........as we drift into the us session i am tempted to start looking at the larger plays for GBP as discussed earlier ....

GBP index hit a 200 pip selloff yesterday ....and today weve seem 100+ bull retrace ......

i am looking here to start taking some bear positions on gbp pairs higher TFs .......lets see
 

NVP

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for example ....

cable looks interesting on the 1 hours ......muchos selling recently and now we are retracing north

i wont get into selling just yet but the dynamics are promising into US session....
 

NVP

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nope......gbp not ready to fold south......still pushing bull in us session

approx 60% retrace now on GBP from last weeks big selling...interesting

i have still been buying gbp once i realised it wasnt folding......the higher TF move re last week can wait....it may need the asian session to break the move back as traders take some profits on todays big moves
 

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