Best Thread Correlation Trading - Basic Ideas and Strategies
NVP
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Jason Rogers
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Hi N 🙂
Your particular FXCM server* is set to GMT. However, the UK is currently on British Summer Time which is 1 hour ahead of GMT. That's why it may seem like your MT4 charts are 1 hour behind.
* While some FXCM MT4 servers are set to GMT others are set to GMT+3 so the daily candles begin and end in sync with the 5pm New York Close. Some traders prefer the latter option so they have 5 evenly-sized daily candles per week instead of an extra candle on Sunday. Regardless of the server time you choose, you can use a free FXCM app to view your local time on MT4 charts.
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NVP
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thx Jason ................and thanks again for the recent help when I transitioned the platform over to a new Laptop..........the guys at FXCM were very helpful👍
N
NVP
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NVP
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hey all
ive been taking a look around the forex arena recently on the latest ideas , videos , training etc etc
and especially at the forex strengthmeter area.....where I have chosen to make my own home / niche / edge..........
that market is now sure a lot fuller with content and vendors than it was 14 years ago when I started out on the journey 😎 !!
just a couple of observations to make in next post that may help if you choose to follow anyone .............or even pay for services..............as you know I don't have a service or a programme to sell these days ...........havnt got the time at present ..may do again one day but busy elsewhere at the moment
but I can see what others are selling and what you are paying for ............all I need is a couple of videos and a little eyeballing of any software on sale :smart:
N
ive been taking a look around the forex arena recently on the latest ideas , videos , training etc etc
and especially at the forex strengthmeter area.....where I have chosen to make my own home / niche / edge..........
that market is now sure a lot fuller with content and vendors than it was 14 years ago when I started out on the journey 😎 !!
just a couple of observations to make in next post that may help if you choose to follow anyone .............or even pay for services..............as you know I don't have a service or a programme to sell these days ...........havnt got the time at present ..may do again one day but busy elsewhere at the moment
but I can see what others are selling and what you are paying for ............all I need is a couple of videos and a little eyeballing of any software on sale :smart:
N
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NVP
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without getting into detail or vendors (as that's not fair on them) my main observations are
1) most stuff is just the basic FXCorrelator (available here below for free) with a few tweaks and fancy whistle's.........theres no real originality really around ive seen .....and nothing worth hundreds/thousands of pounds of punters money in truth.....certainly not for the software on offer
2) Sure some of the vendors will add some value added .......but its not rocket science really .....................the real value in my opinion is utilising established patterns and signals from the 7 key things below ...........I still havnt seen anyone truly leverage this in the trials and tests I have been able to conduct ...or even mention them in truth
3) the main thrust (disappointingly) for all this money is the simple adage of trading diverging currencies with the trend and fading converging ones ..............jees .........do not pass go .....do not collect £200 🙂
4) even more disappointingly I see a lot of the systems simply selling overbought currencies and matching them to buying oversold currencies on the charts ..........they will tell you the currencies must retrace soon and that's the secret of the system ...........hmmmm 😕
sure the magic works sometimes ........and if you search my very long thread here(search / type in converging or diverging) I talk at length about using the converging play ..........warts and all .....warts and all ....
if you hang your complete strategy around this premise you will fail over time .............sorry but just my humble opinion............a currency registering a high divergence reading (especially on lower MA settings) does not make it an automatic retrace trade ........😎
look at any paid services with objectivity and I would always recommend you take a long long look and play with my free offering here first to get the idea of how strengthmeters work.....at least you can then have more idea of anything you are paying for 👍
good luck !
N
1) most stuff is just the basic FXCorrelator (available here below for free) with a few tweaks and fancy whistle's.........theres no real originality really around ive seen .....and nothing worth hundreds/thousands of pounds of punters money in truth.....certainly not for the software on offer
2) Sure some of the vendors will add some value added .......but its not rocket science really .....................the real value in my opinion is utilising established patterns and signals from the 7 key things below ...........I still havnt seen anyone truly leverage this in the trials and tests I have been able to conduct ...or even mention them in truth
3) the main thrust (disappointingly) for all this money is the simple adage of trading diverging currencies with the trend and fading converging ones ..............jees .........do not pass go .....do not collect £200 🙂
4) even more disappointingly I see a lot of the systems simply selling overbought currencies and matching them to buying oversold currencies on the charts ..........they will tell you the currencies must retrace soon and that's the secret of the system ...........hmmmm 😕
sure the magic works sometimes ........and if you search my very long thread here(search / type in converging or diverging) I talk at length about using the converging play ..........warts and all .....warts and all ....
if you hang your complete strategy around this premise you will fail over time .............sorry but just my humble opinion............a currency registering a high divergence reading (especially on lower MA settings) does not make it an automatic retrace trade ........😎
look at any paid services with objectivity and I would always recommend you take a long long look and play with my free offering here first to get the idea of how strengthmeters work.....at least you can then have more idea of anything you are paying for 👍
good luck !
N
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NVP
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even if we move up the ma to say a 60ma (captain currencies fav ma)......so that the convergence is less skewed you still overall (in my opinion) have to be very very careful in how you fade the currency in question.........
it actually looks pretty good on this recent chart doesn't it ?......all those currencies are converging back like missiles ...............safe profitable signals
well sometimes ...........life aint that simple ....so beware...
and don't pay anyone hundred/thousands of pounds for basically this strategy as its available for free by using the fxcorrelator ..........throwing on a higher MA setting (50-60+) and then putting on some overbought/sold lines !!!! ...........any TF works .......... :smart:
later
N
it actually looks pretty good on this recent chart doesn't it ?......all those currencies are converging back like missiles ...............safe profitable signals
well sometimes ...........life aint that simple ....so beware...
and don't pay anyone hundred/thousands of pounds for basically this strategy as its available for free by using the fxcorrelator ..........throwing on a higher MA setting (50-60+) and then putting on some overbought/sold lines !!!! ...........any TF works .......... :smart:
later
N
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