Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

e/J at around 144.66 at ths point with buy potential

 

[NVP]

this could prove a frustrating time if AUD gets the buys instead of Euro and GBP......

 

[NVP]

jees this is hard work..........e/J trade on

 

[NVP]

gonna place some tightish stops on trades as i need to go to some meetings

damn hard work this afternoon.........another classic reason why many traders dont trade NFP day

later
N

 

[NVP]

ive only got the e/J on so I will look in later..........

 

[NVP]

hey all

meetings are going to take longer than I thought and i am reluctant to let things hang........

ok closed out the e/J ...........peanuts

later
n

 

[Itshamish]

With NVP's approval, here is some good advice from one of the Masters of ForeX, Mr Joe Ross on trading:

Joe Ross' Chart Scan

 

[NVP]

hey all

i'm getting tied up more and more so wont get back to trade probably today

the E/J trade I walked away from is slowly going north but I cant be bothered to go back in and chase it now .....

later
N

 

[NVP]

as I leave one of my private systems has just called an E/U buy around 1.3052....on the 15m TF

again I wont be trading it but thought i'd shout it out ...

that particular one doesnt call many and today it has been quiet since the 10am trades selling GBP

later
N

 

[NVP]

back again.........well that one is disapointing so far eh ?

only the AUD & NZD are really showing a robust posture now on the 15mins.....I was expecting more from the Euro

give it perhaps more room down to around low 30's if you can run to that .......and sorry if it folds ......

N

 

[NVP]

ok signing off now ...........aside from the signals I am producing above I must confess i was expecting to see the Dow soften into US afternoon trading and we get some opportunities to finally buy the USD and perhaps the Yen

time will tell ..time will tell....
N

 

[NVP]

ok last post............my gut feel is telling me to close that E/U buy trade.....we are moving out of european business hours so generally it quietens.......if anything was going to perform it would be the AUD and NZD taking trades into the last session of the week.....

up to you ....as I say that system doesnt call many and most are sweet.......unfortunately the NZD and NZD are both remaining bullish at the expense of european currencies on this move


N

 

[NVP]

hey all.....

just winding up that call yesterday.......you can see from the standard system just how different one of my private systems is when calling that E/U buy at 1.3052 !

on the standard 20ma the Euro is way way south alongside the USD.....

well on a 20 pip stop loss it did in fact rally as dow went further north and a few pips were on offer .......certainly a 1:1 risk ratio delivered 20 pips in the end on E/U

did I stay in my trade and make the pips by following my signal ?

does it matter ?

later
N:smart:

 

[NVP]

mornin all

ok I am hunting buys on the USD and Yen ..........of Dow futures folds south we will be in for a treat !

N

 

[NVP]

on low timeframes its frustrating at the moment as the Yen and USD are weak...but AUD and NZD rule the roost re buys .......frankly I would only bite if GBP or Euro got stronger .....

N

 

[NVP]

hey all ............I've been asked a lot about strengthmeters over Xmas and the new year

I will try to respond to all the questions individually but I reproduce below a post that summarises what I am doing 24/7 to create forex Trading ideas and strategies ........

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1285.html#post2023040

I am concerned about Everything I see on my FXCorrelator Screens.........I just dont go into much detail here about them

seriously though - My FXCorrelator systems and strategies I use personally encompass constant examination and determining patterns/signals from these factors :-


PATTERNS by observing :-

Power (strength of each currency)
Position (of each currency relative to others)
Partnerships (of Currencies - groups,pairs....or non partnerships)
Polarity (of currencies +/- ....who is above or below the MA Zero)
Period(s) (TF and MA , TF/MA combos & multiples relationships)
Perspective (G8 relationship to other markets - Equities/Gold/Bonds/Commodities)
Politics (Global Market news , Events)

strengthmeters are incredibly underated indicators in the Trading world .........Imagine what the Quants do with this kind of stuff day in day out .........mindblowing !

and if truth be told...............the ones with just a few simple rule are so far the best !

N

 

[NVP]

G/U looks promising now .........above 1.6062

N

 

[NVP]

what is the damn story with the NZD ????........that dude is rocking

 

[NVP]

i'm undecided on this market ..........to be honest I shouldve bought GBP long ago and not now on the break signals coming .....standing aside ......

N

 

[NVP]

until at least the NZD starts behaving normally ........