Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

london morning now well closed ...........

best news was a swinging gbp that rallied later on .......yen was the dog.....plenty of selling .usd stayed pretty bear overall..........euro turned bull following the gbp up later session

cad took big hits later session off some great early bull action .....

pairs in news

plenty of EJ to + 90's from 6am
gu came north on the run to + 50's ..........better if you took it from the lows of day
EU and UJ buys to + 40's

no complaints from me .........even by 8am I was quids up on targets and a few bonus ball trades post 8am as well.........

the GU is like a magnet for traders at the moment ........its offering big rewards for the right calls ......but also it will bite you like a tiger if you catch its tail wrong ........

brexit hangover still causing higher than average volatility in the G8 and expect more when us session starts

nothing like Friday though ..........that was incredible big time volatility on my G8 Vixmeter

N

 

[NVP]

just called 40 pip GU buy trade on my scalp thread in my lunch hour

40 pips in 10 minutes

all part of the service !!!

later ...........i'm late for a call

NVP (Neil)

 

[NVP]

there you go guys .....40 pips in 10 minutes

all part of the service !!!

later ...........i'm late for a call

NVP (Neil)

and do you know what 40 pips can be worth in % ROCE to a scalper ?

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1757.html#post2763720

that's why I scalp
N

 

[NVP]

hey all

jees what a day ......never really got back to screens

us session has been thus :-

storming usd bull after some very early falls .....other than that a lot of swinging going on .......yen has stayed relatively bear (from Asians really)

pairs in action
GU run up 50 pips early us session
Ucad and EA bull later on today to +50's
and GU a sell off to -50's (so 100 pip swing if you called the earlier high)

plenty of pips around ........great session

have a good evening
N

 

[NVP]

ok this is boring me ...............EU sell on a 1044 spike so far ........

right that's me done .....in last 10 mins I missed 2-3 decent scalps and then bagged a slow EU sell

cheers guys
N

 

[NVP]

morning all..........scalping away

overnights
gbp selling , Yen buying (anyone finally realising these 2 guys hate eash other correlation-wise ? )

6am opens
yen to +30s
GBP sold to -30's
usd bull with yen (good pattern)
aussies selling

pairs I'm scalping
GU sells to -40's
EA buys to +25's
EJ buys to 20's

plenty of pairs offering 20 pips moves from 6am in 1 hour so far

not too shabby this morning .........sure i'm not making hundreds of pips an hour like last Friday but today with the gbp volatility (and yen don't forget) adds up to very solid pips in my usual 2 hour window of trading 6- 8am before my consulting work kicks in

N

 

[NVP]

stupid fake play on me re earlier GU sell.........but since then

3360 GU
1073 EU
113.34 EJ

that's pushing 40-50 pips for me now on those 3

that'll do for last 15 mins work

N

 

[NVP]

back later ..........want some brekkie and last 15 mins has nicely topped up the bank for today

N

 

[NVP]

hey all

working but half an eye on market ..........

extended bear usd and Yen set the markets up just fine last 30 mins


gu came back to 3320's then bounced to 3407's so far ........
EJ back to 113.11's and off again to 113.59
EU now 1098

nice smooth extensions of my earlier calls.........

N

 

[NVP]

trading especially scalping is pretty frustrating eh ?

I can call you the direction ...yep ?...but putting the pips in the bank can be hard work eh ?

that's called EXECUTION guys

the most important skill in your toolbox.............

any idiot can hack together a half decent system......even me

but it take a a lot of practice to enter and exit with 1000% precision and focus

so keep practising every day .........and make sure you are a master at this skill

later
N

 

[NVP]

hey all ........London morning now over virtually

Sustained selling of Yen off Asian highs has been the message from London session......GBP has held a fairly tight bull range (encouraging)

pairs traded
consistent rebuying of Gu has been rewarded for scalpers ......market up 120 pips from London lows
similarly a weak yen has provided EJ moves of up to 100 pips again from London lows

BOTH ON MY BUY LISTS FROM EARLY CALLS TODAY

so don't tell me you didn't know about them ........!!

N

 

[NVP]

Hey nvp, whats your percentage gain or loss on your account atm?

now there's a question that's historically given me a lot of grief from members where I have published results before ..........let me come back later when more time

N

 

[NVP]

Hey nvp, whats your percentage gain or loss on your account atm?

hey there - back again

if you exclude the amazing last few days heres what I bat........

I average around 30-40 pips gain in a 2 hour session ...50+ if I get a decent runner

I can trade 3-5 contracts per scalp and then unload the contracts through the scalp dependent on its move

I try to use 2% of capital per trade overall ........and therefore overall I suppose my average capital earned per pip varies based on the mix i get ..but generally ...say its between 0.1% and 0.2% per pip

so on an average day (40pips) I am looking for 4%-5% return on my capital base ......

it can be more if i get some good runners and if i am feeling brave and manage to load a significant element of my 2% on that runner

Brexit was an amazing 18 hour session for me (from early Asian)...........but i had to naturally reduce stakes to accommodate spreads and the margins brokers were demanding

but with the yen bull and the GBP bear alone both generatiing 1,000 pip moves each initially (GBP bear / Yen bull) and then both retracing back 500 pips as well..........clearly it was a good session !!!

even Monday rocked .....if anyone was following me i seem to recall trading GU quite a few times and taking about 50 pips per swing ..........every trade was making more than i do most 2 hour mornings on a slow day ......wow !!!

N

 

[forexkunta]

I have watched you tinker with your strength meter since I got on this site in 2009, and I haven't put much stock in what you were trying to accomplish. I downloaded and installed it last week and watched as things unfolded with the Brexit with the different currency pairs, and I have to say that what you have done is excellent. I have been watching GBP/JPY and Cable today trying to figure out if the move up in the last couple of days was a new trend or a correction. I was beginning to lean more to the corrective side, and I pulled up your meter and it basically confirmed what I was thinking. This thing goes hand in hand with Elliot Wave analysis, and really helps to confirm counts. Thanks for all that you are doing in the community. I will be consulting the meter on a daily basis from now on.

 

[NVP]

I have watched you tinker with your strength meter since I got on this site in 2009, and I haven't put much stock in what you were trying to accomplish. I downloaded and installed it last week and watched as things unfolded with the Brexit with the different currency pairs, and I have to say that what you have done is excellent. I have been watching GBP/JPY and Cable today trying to figure out if the move up in the last couple of days was a new trend or a correction. I was beginning to lean more to the corrective side, and I pulled up your meter and it basically confirmed what I was thinking. This thing goes hand in hand with Elliot Wave analysis, and really helps to confirm counts. Thanks for all that you are doing in the community. I will be consulting the meter on a daily basis from now on.

Hey forexkunter......

for many experienced traders forex strengthmeters are still valuable tools to be used as part of their armoury

it doesn't have to be the central part of the strategy ......but naturally in my case it is ....

don't get me wrong ...I am still a keen student of all the standard pair based rules and patterns (price action , Support , resistance , HH , LL etc etc .............but they all take second place to my fundamental principles and rules regarding INDIVIDUAL currency strengths and patterns first......

glad it helps

N

 

[NVP]

morning all

overnights
yen / USD bull plays ......solid pattern to +50's on Yen
GBP the sell (surprised ?).to -50's
everyone else are tourists

London 6am .......
yen and usd still bull...retracing at present
mixed bag selling......gbp retracing north at moment

scalp pairs in action ........

hard work .........not much running as yet
EJ sells (off bull yen)
GU sells (off bearish GBP)
EA buys more steady but slower so far
ucad buys pretty solid

lets see what 7am bar does.....if GBP reconfirms its bull change and usd fades more i'll chase it north more aggressively then

N

 

[NVP]

great action now from 7am bar .i'm opening up more pairs up to trade so need more screens ....so will post a little later on ......

 

[NVP]

London morning now in final furlong.....

best 3 bursts were

7.30 - 7.50am
8.10 - 8.20 am
8.40- 9.15am

been a little limper since then ......

at the moment the GBP weakness is extending so GU not bad from 10.30 highs of 3490s now to 3430's

back later .we probably need us open to warm up the pot ....
N

 

[NVP]

and now a very important technical analysis chart for our holiday makers .....

i'm also abroad next week ..........this is important to me

major beer money alert in European countries ...........its actually worse if you are stateside but that's not shown

N

 

[NVP]

GU to 3436........from 50's

here she comes .........nice

ok lunchbreak over for me and 1 half decent GU sell to 34's

back later guys

N