Best Thread Correlation Trading - Basic Ideas and Strategies

NVP

Legendary member
36,733 1,871
hey all

slow start to week so far ..........nothing much moving outside +/- 10 pips yet from 6am so im pretty light so far

USD bull alongside GBP ....interesting mix that

ive had one scalp out of EU so far selling under that long range on 1min from 1165 down to 1150
.....havnt been back in yet ......

Yen selling as well so no opps on EJ as yet

N
 

NVP

Legendary member
36,733 1,871
slow start today so far ....yen is liveliest and gbp dead as doornail so far

back later
 

NVP

Legendary member
36,733 1,871
(reproduced from other thread)

I also took a look at Gold myself earlier ....not really my bag but i have traded it in the past ...mainly using Strengthmeter analysis

Granted - Gold has been impressive since June ....and that 1320s - 1540's kicker was all off of a strengthening USD index .....so 10/10 for effort ...

currently rangy ....USD has softened in the last month but it hasnt kicked Gold Bulls into action as yet ....

personally i need to see some action ........I wouldnt chase it up without some confirming patterns .....

loads more fun stuff out there to trade than the paint drying daily's .....

having said that I do like what Golds doing on 1 hour TF ........that crash south worth a rebuy at moment ....usd coming off the pace today but gold holding nicely so far .....I would chase up if it breaks the 1488's and take a tight stop say on the latest lows 1482...........especially if usd keeps tanking today

N
 

NVP

Legendary member
36,733 1,871
another reproduced post of today :-

How I turned £3000 into £20,000 in 6 Weeks! (Thread)

me:-

to be honest it depends on the number of trades taken to achieve that ROI ......(670%)

But 99% of profitable and experienced traders would agree this is ludicrous return expectations for risk needed in just a 6 week session and minimal trades ..........crazy !

for example

my max trade is always 2% of bank so max trade was £60 per trade on £3,000 open

even scalping say at 70% success rate and 1:1 return when successful = (thats good)

Loss = £60 X 30% = £18-00 Loss
Gains = £60 X 70% = £42-00 Gain

Net = +£24-00 per trade net profit = (0.8 % of Bank profit per trade)

so (excluding increasing the trading size as bank increases and transaction costs) you will need

£17,000 / £24 = 708 trades to get to a £20,000 bank in 6 weeks - (no increase in stake)

or around approximately 250 trades if you increase your stake to match 2% of Bank
(so final trades being approx £400 per trade by the time you hit those £20,000 levels)

personally even scalping i am struggling to hit even 4-5 good net trades in a session fitting criteria above
im pretty happy with 2-3% of bank in a 4 hour session .......thats good going on average

so lets say 2 scalping sessions a day X 6 solid weeks = 6 weeks X 5 days a week X 2 sessions = 60 sessions

60 session at 1% return per session gets me a £1,800 profit from £3,000 stake (Flat £60 a trade) = 60% ROI
60 session at 2% return per session gets me a £3,600 profit from £3,000 stake (Flat £60 a trade) = 120% ROI

OR £2,290 on 1% per session if i was scaling up per trade (I would be around £105 stake a trade by then) = 77% ROI
OR £6275 on 2% per session if i was scaling up per trade (I would be around £147 stake a trade by then) = 209% ROI

and this is very good and consistent trading .........with some really good days needed as well to offset the many flat low return days .....

so please dont believe the hype on so many promises out there....the reality is much harsher

N
 

NVP

Legendary member
36,733 1,871
hey all

A good week for buying USD ....the greenback been solid every day from money ...made positive gains Daily so far ...thats 4 from 4 ......quite rare in fact (hint !!!)

anyway great times to buy USD in all its pairs ......and also to sell Gold/USD as well ......clearly when USD is strong it will force the price of Gold (in dollars) South - unless Raw Gold index is booming as well to offset the negativity

in my goldmeter index below you can see it got boomed hard this week ......the goldmeter is available below in links or ive uploaded it again

N
 

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gka

Established member
692 5
hey all

A good week for buying USD ....the greenback been solid every day from money ...made positive gains Daily so far ...thats 4 from 4 ......quite rare in fact (hint !!!)

anyway great times to buy USD in all its pairs ......and also to sell Gold/USD as well ......clearly when USD is strong it will force the price of Gold (in dollars) South - unless Raw Gold index is booming as well to offset the negativity

in my goldmeter index below you can see it got boomed hard this week ......the goldmeter is available below in links or ive uploaded it again

N
Hi NVP thank you for your gold analysis.

Thought you might be interested in seeing what the VRM has to say about gold. I have been experimenting with the VRM algorithm using the COMEX front month gold future contract GC-1. VRM charts attached. Weekly chart to the left. Daily chart to the right. GC-1 has moved below the middle of its long term trend channel 1511.81 where its finding resistance . The long term trend channel is moving sideways.

VRM explained in first post of thread "Predicting future FX support and resistance levels using mathematics"

GC.1-Gold-100-Troy-Oz-COMEX-Future-2019_11_08.PNG
 

NVP

Legendary member
36,733 1,871
cheers Gka .....hope its all going well.....N
 

NVP

Legendary member
36,733 1,871
ok interesting start to week

yen and usd tag team are selling well so far .....lovving it

bloody europeans wont come north...........its the NZD , AUD show so far .....excellent tribal patterns

so im scalping NZDUSD wierdly so far ....not even Cad has stepped up to buy .....normally a great play when most europeans are are sticking to yen usd direction

NU 6350s to mid 65's so far .....

im watching Cable though ....GBP has sprung more bull than bear so far today so willing to hammer it again if offered bloody 2791 bear spike south toooo fast to buy back into so its 2800 now ......watching

N
 

NVP

Legendary member
36,733 1,871
cable to 2890s .....thank you thank you thank you trading gods .....that was a nice surprise for a monday session

farage gifts conservatives the election ?

N
 

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NVP

Legendary member
36,733 1,871
in looking at some old goldmeter stuff i found this 2015 link to when i actually published some of my daily live performance at the time .......to all scalpers and traderrs whatever I hope this proves it can be done if you work hard and find something that works for you

N

 

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