Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

on the 1h corrie 1000/1

look at that massive test today coming on the Euro.......resistance 101 ?

if tag takes off north later thats a good looking sell......might not even need it and just sell against the GBP as already discussed.....

watch its breaches/movements after the 15m 7am bar tests....umm now !

N

 

[NVP]

7 15s set..................we can all see the probable trade direction but euro and us are
lifeless.......thats tooo much reliance on the gbp at present....get some coffee for them.....jeees

N

 

[NVP]

looks like euro is the whipping boy now......

 

[phreddyinbg]

Wish they would all line up nicely!!
Here's the 5pm look. What do I make of it? Blowed if I know. This is all much too difficult for me.
Time for a nap.

 

[NVP]

Wish they would all line up nicely!!
Here's the 5pm look. What do I make of it? Blowed if I know. This is all much too difficult for me.
Time for a nap.

Hi Phreddy

if in doubt dont trade....otherwise follow the 3 duck rules to the letter.....I would look to buy the GBP against whatever the rules allow you personally ....but let that 5m come off a tad first so you get the boost from the retrace first......

N

 

[Lord Flasheart]

guys do you follow the 3 ducks religeously and how are you doing,thanks

 

[NVP]

slow steady day......

USD still wont breach the overnight channel but GBP has been kind so far.....

that Sell Euro and USD into GBP has been best but not exactly setting world alight.....gold got above the 20ma on 5m back at 8.50ish so lets see if it continues to follow thu driving USD below the overnights lower support line......

N

 

[NVP]

guys do you follow the 3 ducks religeously and how are you doing,thanks

Hi julian

yes we do see below.....

(sorry)
N

 

[NVP]

guys do you follow the 3 ducks religeously and how are you doing,thanks

hi mate

seriously now......I introduced the 3 ducks a while back as part of introducing a triple timeframe approach to using the G8 corrie (ie multiple timeframe confirmation)

its as good as any trend based Ma system out there and is simple in approach

personally I think the TF spread is a little skewed on 5m (X12) 1h (X4) 4h.... but who am I to talk vs captain currency !

does it work ................yep......as long as you get a solid trend on the 4h and 1h locked in the the trigger on 5m will make you money as it switches back into the main trend.....

personally though following lower TF action the scalping calls here will be making muchos money money way before those big 4h and 1hrs shift into postion to allow us to trade.....

for example this morning all pips we have been looking at would be forbidden on the 3 ducks as the high TF are not aligned to the 5m for our trades

pays yer money takes yer choice !
N

 

[NVP]

Euro is flat today (even with tag falling) and is shaping up for me to be a mega sell later.....if the tag finally decide to go north soon sell euro as it will be carnage again like last week.....

N

 

[Lord Flasheart]

lol thanks i watch what you do for a while,last question before i study the method properly.How many trades a day does it throw up per currency,using the 3 ducks religeously and the scalping technique thanks again

 

[NVP]

lol thanks i watch what you do for a while,last question before i study the method properly.How many trades a day does it throw up per currency,using the 3 ducks religeously and the scalping technique thanks again

the corrie scalping I call here is a support system with no real pure entry point as such......I encourage everyone to use it as a support tool and use own methods to confirm entry ......remember the essence of the corrie is to show you what individual currencies are doing......its like a matchmaking service where we try to put a riser with a faller to optimise the trade !!

for example our resident pro gunslinger JRP likes the corrie and now adopts it into his own system to confirm his trades.....apparently he made just the 140 pips last week on E/U (although it was a good week for dumping E !)

Watch his summaries here to see what he makes a day.....his system is all his own though and I urge you to develop one yourself ....dont trade pure corrie

as for the 3 ducks I would recommend you read Captain currencies thread and work as ive just adopted his system and the corrie is just a great way of showing all the G8 potential trades for 3 ducks on just 3 charts

best wishes and good trading
N

 

[NVP]

just to prove me wrong the euro is retesting its daily high....still dont like her though

 

[NVP]

crunch time..usd testing the low of day as well.....

 

[NVP]

gold is flying up.............

 

[NVP]

jees euro has popped up and usd is breaching down fast.....see the explosive force that followed it......now usually if I had had money on everything would have reversed !!!

 

[NVP]

Euro is going north......GBp is flat/following tag down.....and tag is falling fast !

 

[jrplimited]

Hi N and all else,

Had a horrific job of "seeing" EG pair on graph today and spent past few hours after my end session trying to find the cause.... Monday morning blues and whatever else must be the cause there! I was able to trade on other two pairs though and drove straight into a car wreck:-

GU; Really strange morning. First trade entered long at 08:05 bar and found myself in a sharp retrace which took out SL on 08:15 bar for 21 pip loss - ouch! Waited to see if that decline would accelerate but price reversed and started rising again. Second trade placed buy stop at 61488 and this filled towards end of 08:45 bar, hovered for a bar then shot up and then hovered for two bars and shot down again! Hells teeth. Stayed with trade as it slowly climbed up again then watched a frustrating drop down at 10:15 which just about ended up where I was filled. Couple of bars later it rose once again then did another drop so I decided to simply get out after 10:50 bar for a 6 pip profit as two hours and lack of direction were not a good sign.

EU; First trade entered short on 08:15 bar which hardly moved then price crept upwards for a couple of bars. came down again then went back upwards and 08:45 bar took my SL out for 18 pip loss. Second trade went short on 09:15 bar and yet again that naughty price turned around on me and skipped away northbound and 09:50 bar took out SL for another 18 pip loss. Two losses on the trot for me means leave this pair well alone!

Well and truly stuffed this morning but thats the reality of this trading thingy for you - trade well and regards,
Simon.

 

[NVP]

Hi N and all else,

Had a horrific job of "seeing" EG pair on graph today and spent past few hours after my end session trying to find the cause.... Monday morning blues and whatever else must be the cause there! I was able to trade on other two pairs though and drove straight into a car wreck:-

GU; Really strange morning. First trade entered long at 08:05 bar and found myself in a sharp retrace which took out SL on 08:15 bar for 21 pip loss - ouch! Waited to see if that decline would accelerate but price reversed and started rising again. Second trade placed buy stop at 61488 and this filled towards end of 08:45 bar, hovered for a bar then shot up and then hovered for two bars and shot down again! Hells teeth. Stayed with trade as it slowly climbed up again then watched a frustrating drop down at 10:15 which just about ended up where I was filled. Couple of bars later it rose once again then did another drop so I decided to simply get out after 10:50 bar for a 6 pip profit as two hours and lack of direction were not a good sign.

EU; First trade entered short on 08:15 bar which hardly moved then price crept upwards for a couple of bars. came down again then went back upwards and 08:45 bar took my SL out for 18 pip loss. Second trade went short on 09:15 bar and yet again that naughty price turned around on me and skipped away northbound and 09:50 bar took out SL for another 18 pip loss. Two losses on the trot for me means leave this pair well alone!

Well and truly stuffed this morning but thats the reality of this trading thingy for you - trade well and regards,
Simon.

Hi mate..............yeouch sorry to see that today

I know you were going to be testing system feeds last night until early hours and clearly things were not going well first thing this morning on that front........ouch !!

I bloody hate Systems myself as well......

N

 

[NVP]

sorry my posts have been non existent from late morning....stuffed at work

N