Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

hey all

and Happy new year !!!

I started a new role recently so time is extremely limited/Zero now for trading ......

my links and indicators are all available FREE below in my signature area and I will be keeping an eye out for any questions and comments you have here - please post and I will get back to you when I can

good trading and talk soon
N

 

[NVP]

hows it all going gang ?............I hope well

jees i'm getting withdrawal symptoms .........i'm full on in this new role ....its all around developing new business ventures and longer term income for Local government (as they lose government grants) and the pressure is on for results in this election year !!!

aside from an interesting discussion with the treasury team re their investment portfolio and some low level input on any export opportunites (exporting to Europe ?......watch that E/G rate !....sell to the US dammit with that greenback tailwind) i'm not getting anytime to talk and play currencies

will log in whenever I can but boy i'm cold turkey

send any questions here as I will answer them in time ......don't forget the free resources below either

N

 

[NVP]

Thanks NVP, I'lll go ahead and check this out later today.

hope you have found value in some of my strengthmeter adventures and experiences

N

 

[NVP]

I would love to get over the million views this year but with very limited opportunities to contribute much here (in the short term) it will be a long hard slog.........

such is life ........as I tell my wife its quality and not quantity that matters

N

 

[NVP]

another week where I have been peddle to the metal in a new role ........plenty of fun and fireworks as a small team of us look at some new business ventures for a local authority......long hours but very very interesting

anyway what is going on ?.......I leave you all alone for a few days and you let the swiss play "drop the peg ?"


N

 

[NVP]

so the Swissie went king kong bull in seconds/minute eh ?

everynow and again these things happen ....

this is the dangerous business/market we move in .............its brutal and when a big big move occurs people win and many people lose

so I urge traders to undergo the correct due diligence in their business of trading *****

trust no-one and never expose yourself to substantial losses
read the small print on broker contracts
and especially make sure that you are watertight on stop slippage
ensure any legal disputes will be handled under the English legal system

guys guys guys - this is not a game .........

sorry to here about anyone who is being hit for stop slippage but this is not kindergarten.....

not what the slick vendors tell you is it ?...they say everything is fine and dandy ......

this is why if you look through all the posts and theads at T2Win you will see many of the more experienced traders urging people to undertake this business at their own risk and only after proper due diligence

we mean that ..........we are not saying it just for our own benefit

sorry again to here of the issues I am reading around the forum - traders will need legal council to understand positions

N

** as in any business gang ...........take it from someone currently looking to create and build probably 4-5 new businesses for local authorities..........due diligence is all .......every nook ....every cranny....has to be painstakingly considered and proper risk management measures identified and implemented to ensure we have all bases covered ............. you can never anticipate with full accuracy if something WILL happen ...but you can identify it beforehand and have things in place to mitigate the effects of it happening (or have decided not to do it at all if the risk "Tail" is too fat and the scale of the negative effect is too large to mitigate against)

 

[NVP]

well it had to happen ..............

after about just 28 days in the role (and 45,000 hours of work) It was clear that there were some major issues surrounding stakeholders taking the commercial advice I was giving..........

and without giving to much away I was not prepared to waste further time and effort on businesses that had less chance of flying than a pregnant elephant

so we mutually agreed termination terms on Wednesday

wheres those bloody charts......the boys are back in town !!

N

https://www.youtube.com/watch?v=SGZqDzb__bw&list=RDSGZqDzb__bw#t=17

 

[Forexmospherian]

Hiya N

I had a fairly good day yesterday - and a cracker this morning

Really pleased to hear you are back

I will get you sorted - looking forward to it ;-))

Regards


F

 

[Rockford-]

Hi NVP,

I've read the last 2 months of your thread, and last week I started using your FxCorrelator. I really appreciate you sharing your experise and your indicator. I'd like to ask you a couple of questions, because your tread is so large, I don't know where to go to get these answered.

1) What do you think is the best timeframe to place the Fxcorrelator on?

2) Can you tell me something about your entry?

3) What initial stop-loss do you like to use?

4) I've noticed with the UHighLow indicator, that the EUR, GBP and AUD is set to true and the rest aren't. Can you tell me about that?

Thanks,
Rockford

 

[NVP]

Hi NVP,

I've read the last 2 months of your thread, and last week I started using your FxCorrelator. I really appreciate you sharing your experise and your indicator. I'd like to ask you a couple of questions, because your tread is so large, I don't know where to go to get these answered.

1) What do you think is the best timeframe to place the Fxcorrelator on?
its just showing a snapshot of the relative strengths of 8 currencies based on a moving average value of your choice (default 20) so is applicable in any timeframe -


2) Can you tell me something about your entry?......there are zillions of permutations for entries ...if you read my links below and spend a little time here on this thread (and I have another more devoted to basic strengthmeters here at t2win) + perhaps look at my youtube channel....you may get some ideas............generally I will be looking at when a currency crosses the zero ...........but that's pretty basic :smart:


3) What initial stop-loss do you like to use?.......how long is a piece of string ? .........millions of articles on this subject .....all I suggest is tight enough to ensure minimum losses to capital base ....but large enough to give the trade breathing space ..........2% max for me

4) I've noticed with the UHighLow indicator, that the EUR, GBP and AUD is set to true and the rest aren't. Can you tell me about that?.....ummm cant remember .....the usd hilo is the usd index .............I think I adapted one I had from other generic indicaotrs and couldn't be bothered to take off a lot of the other features it could use ........you can play around with settings but I think its only been core coded to show the green usd index :smart:



Thanks,
Rockford

no worries !!! :smart:

 

[fxstrategist]

I was also wondering the same quesions as Rockford.

 

[Rockford-]

Hi NVP,

I've read the last 2 months of your thread, and last week I started using your FxCorrelator. I really appreciate you sharing your experise and your indicator. I'd like to ask you a couple of questions, because your tread is so large, I don't know where to go to get these answered.

1) What do you think is the best timeframe to place the Fxcorrelator on?
its just showing a snapshot of the relative strengths of 8 currencies based on a moving average value of your choice (default 20) so is applicable in any timeframe -


2) Can you tell me something about your entry?......there are zillions of permutations for entries ...if you read my links below and spend a little time here on this thread (and I have another more devoted to basic strengthmeters here at t2win) + perhaps look at my youtube channel....you may get some ideas............generally I will be looking at when a currency crosses the zero ...........but that's pretty basic


3) What initial stop-loss do you like to use?.......how long is a piece of string ? .........millions of articles on this subject .....all I suggest is tight enough to ensure minimum losses to capital base ....but large enough to give the trade breathing space ..........2% max for me

4) I've noticed with the UHighLow indicator, that the EUR, GBP and AUD is set to true and the rest aren't. Can you tell me about that?.....ummm cant remember .....the usd hilo is the usd index .............I think I adapted one I had from other generic indicaotrs and couldn't be bothered to take off a lot of the other features it could use ........you can play around with settings but I think its only been core coded to show the green usd index

Hi NVP,

1) Well in the short time I've use the FxCorrrelator, I've notice the cross of the zero line are very different from one timeframe to another. ie comparing the 5m chart to the 15m chart.

2) Yes, the cross of the zero line is pretty basic. I thought maybe you're looking for additional clues for an entry, but ok thanks.

3) I was referrring to a set stop-loss when you're scalping.

Thanks,
Rockford

 

[Rockford-]

Hi NVP,

I need your opinion on something, when you have time.

I downloaded and installed the following DXY indicator.
https://www.mql5.com/en/code/9397

The problem is, it's very different then the FxCorrelator USD line when it comes to the 20sma . Can you think of why?

Thanks,
Rockford

 

[NVP]

Hi NVP,

I need your opinion on something, when you have time.

I downloaded and installed the following DXY indicator.
https://www.mql5.com/en/code/9397

The problem is, it's very different then the FxCorrelator USD line when it comes to the 20sma . Can you think of why?

Thanks,
Rockford

hey there R

wihout getting into the coding there will be zillions of ways why its not the same..........my bet will be the weighting on the USD......I use an average of all 7 major usd pairs ...........most don't ....they are simpler and also have Different weightings on the bigger pairings to reflect the volumes traded

looks like this dude uses different usd pairs to mine for a starter

if I were to recommend one look for something that replicates the usual value you see for the USD index on the brokerage platforms ......ie normally around 80-90 as an index value

most have them now on mt4 platforms ....even FXCM uk has one

mine doesn't agree to that value.......but I don't care !

horses for courses

N

N

 

[NVP]

looks like my old mate Forexperian has gone in the sin bin again.........

jees he cracks me up ...........come back soon F.......

N

 

[Rockford-]

hey there R

wihout getting into the coding there will be zillions of ways why its not the same..........my bet will be the weighting on the USD......I use an average of all 7 major usd pairs ...........most don't ....they are simpler and also have Different weightings on the bigger pairings to reflect the volumes traded

looks like this dude uses different usd pairs to mine for a starter

if I were to recommend one look for something that replicates the usual value you see for the USD index on the brokerage platforms ......ie normally around 80-90 as an index value

most have them now on mt4 platforms ....even FXCM uk has one

mine doesn't agree to that value.......but I don't care !

horses for courses

N

N

Hi NVP,

If I continue to use an USD index, I'll use yours.

Thanks,
Rockford

 

[BSD]

sin bin

Lovely, have to remember that !!!

 

[NVP]

morning all

i'm not in the market trading at the moment ...........I've been playing Mr Consultant to some local authorities - helping them develop commercial strategies/ new business ventures

even with more spare time again now - I havnt really got myself back in the game as I need to do some serious due diligence re placing capital funds back out there.......

I'm pretty confident in my own ability to make money......but the SNB peg move spooked me and i'm in no rush to put my capital in the hands of Companies that will not be able to give it back to me on request..........

will be around for chats if needed - but very little trading calls from me at present

sorry gang
N

 

[NVP]

while i'm here ............

that Swissie call really hammered the markets mid month and the G7 .........you can see below the shift down in relative values they all took when the swissie went to the stars in minutes (swissie not shown)

red gbp, yellow yen, and green usd all doing well since........

good trading
N

 

[NVP]

the swissie went ballistic........

heres one of my own customised charts showing the CHF index (weighted to G7) and the events that unfolded .........damn thing increased in relative strength by some 20-30% to G7 in minutes....

and its still going north as you can see on lower chart

remember the top chart (my standard free FXCorrelator) is set on a 20ma and therefore (like a macd) all lines will converge back to zero eventually as momentum fades )


N