Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

heres the overight scalper action.........

ok ok I know I say that its better to scalp during London morning hours but what I am using this to show what the scalper is about - getting the 5 min chart in the buy or sell Zone for the tag team (Yen and USD) .....and then using the 1 min to nip in and out of scalps when the Tag confims on the 1 min

the chart shows the many many opportunities you will get on a big move like the overnight rise in the Tag Team...........see how now the 5 min is gradually falling towards zero now ?

you could reset you strategy so that you only take trades where the Tag team are Diverging from Zero still on the 5 min chart and ignore the converging periods....but then you will miss big moves that still could easily happen............

also I could tell you that the riskiest scalp trades are when the 5 min first signals that magical tag divergence from the zero .........this can be Chop central on the 1 mins - untill the new trend settles into its stride on the 5min corrie accelerates away from the Zero

so dont scalp to early and dont scalp to late in th 5 min cycle !!!!

not easy eh ?..............:smart:

later......busier cotton day than yesterday today....then I get a breather later in the week (I hope) .......

N

 

[NVP]

its the black swan dudes !

one day they will be using the FXcorrelator and showing INDIVIDUAL currency indexes for any time period like we can

frankly I only use pair charts for entering the trade....otherwise I watch my currencies directly through the FXcorrelator

why talk about the AUDUSD and EURUSD when its easier to just talk AUD or EUR on its own ?

pairs just confuse it by trying to analyse 2 currencies mixed together instead of 1

however - you cannot create the Corrie without the using pairs to feed it....sooo its chicken and egg

N

 

[NVP]

heres the scalper grinding trades out ......all details have been posted in last few days

N

 

[NVP]

Scalpers buying tag team now guys......

 

[NVP]

second burst going upwards now on the 1 min

 

[NVP]

choppy though so watch the price action on individual pairs selected before making that scalp trade

 

[jrplimited]

Hi N and all,

Straight into this morning's rather sticky bun fight....

GU; First trade buy stop at 47198 filled worryingly by weak 08:10 up bar, price luckily went correct direction and shot up over 40 points next two bars, flattened out and rolled over to take out trade during 08:40 bar for zilch point. Second trade sell stop at 47054 filled by 09:10 bar, price hovered then went down, rallied for two bars then continued down forming new 10:00 local low, then recovered and took out TS during 10:20 bar for 13 point profit. Third trade sell stop at 46632 just filled by 11:00 bar, price stalled for four bars then moved down to new 11:30 local low print and immediately recovered and took out trade for another zippo point during 11:10 bar.

EU; First trade sell stop at 22094 filled at end 08:05 bar, price turned around rapidly and took out SL for 18 point loss. Second trade short entered at 22154 on open 09:40 bar, price went down slightly then popped up taking out SL during 10:05 bar for 18 point loss.

EG; First trade sell stop at 82292 filled by 08:15 bar, price went very quiet for three bars then decided to mince away in opposite direction and took out SL with wick of 08:40 bar for 15 point loss. Second trade buy stop at 83168 filled during 09:20 bar, price moved up, retreated to entry level then 09:50 bar kicked into life and propelled price nicely upwards with only a small pause to new 11:00 local high print, then it slowly retraced for two bars and 11:25 bar showed worrying signs as it made large reversal and trade exited near end of this for 21 point profit.

I got very, very lucky with first GU trade as initially I thought this might be a short and that "lucky" vein stuck with the pair as its price didnt really settle down throughout the morning. EU was a mini road crash; everytime a short was entered charts reversed and flagged long! Even EG was flopping around and constantly connecting then disconnecting from its two major counter parts corrie wise, hopefully N will be able to shed a bit of light on that fact when he gets the chance later on - trade well and regards,
Simon.

 

[NVP]

Hi N and all,

Straight into this morning's rather sticky bun fight....

GU; First trade buy stop at 47198 filled worryingly by weak 08:10 up bar, take out trade during 08:40 bar for zilch point. Second trade sell stop at 47054 filled by 09:10 bar, took out TS during 10:20 bar for 13 point profit. Third trade sell stop at 46632 just filled by 11:00 bar, took out trade for another zippo point during 11:10 bar.

EU; First trade sell stop at 22094 filled at end 08:05 bar, price turned around rapidly and took out SL for 18 point loss. Second trade short entered at 22154 on open 09:40 bar, price went down slightly then popped up taking out SL during 10:05 bar for 18 point loss.

EG; First trade sell stop at 82292 filled by 08:15 bar, took out SL with wick of 08:40 bar for 15 point loss. Second trade buy stop at 83168 filled during 09:20 bar, 11:25 bar showed worrying signs as it made large reversal and trade exited near end of this for 21 point profit.

I got very, very lucky with first GU trade as initially I thought this might be a short and that "lucky" vein stuck with the pair as its price didnt really settle down throughout the morning. EU was a mini road crash; everytime a short was entered charts reversed and flagged long! Even EG was flopping around and constantly connecting then disconnecting from its two major counter parts corrie wise, hopefully N will be able to shed a bit of light on that fact when he gets the chance later on - trade well and regards,
Simon.

Yeooch .....painful......I can offer no further enlitenment to price action but at least
let me see if I can pull up a chart to show the currency moves this morning

N

 

[NVP]

heres the famous 3 currencies that JRP trades for the mornings action on a 1000/1
5 min Hybrid.....all with a dynamic resistance lines in tow to show the general trending

The early moves were Selling GBP and buying the U and E....but hindsight is great for reviewing the moves and the money to be made .....doing it real time (and avoiding chop) is a lot more difficult.....
N

 

[NVP]

thanks for all the kind comments and subtle chasers regarding my corrie Hybrids systems release

I promised End of May and have failed to deliver - but I have 101 excuses (including the dog ate my homework)

its coming , its coming.............Tills (WIP) Candlestick breakthrough of a corrie indicator threw me off track as I am pure "AAA" type personality and can never finish anything

umm...what was I saying ?

N

 

[NVP]

Hi all

sorry - stuffed and cannot seem to load up my Remote access charts

will try later

meanwhile Can I publically say that i love Tigloo and he is the greatest mt4 programmer
in the universe ..........he knows why !

i've never seen Alan so happy......

N

 

[NVP]

Hi all

Most of us tied up today with one thing or another so apologies for our absence :innocent:

Heres the E G and U action today courtesy of a corrie hybrid......looks like the USD just got some wings !

JRP loves these 3 so he would have done well today .....the E/G would have been a pig though as they tracked closely

N

 

[NVP]

Hi all

one more post then gotta go

heres my scalping information (plus some other bits)

http://www.trade2win.com/boards/for...g-basic-ideas-strategies-421.html#post1140476

and heres the indicator (ODL/FXCM formatted)

http://www.trade2win.com/boards/for...g-basic-ideas-strategies-416.html#post1135520

let me know here if issues - Till was working on a version that allowed the brokerfeed
annotations to be tweaked

this afternoons scalper session should have been profitable judging from my 5 min charts below....

N

 

[NVP]

mornin all....heres overights

 

[NVP]

and a little 5 min scalper focus

 

[NVP]

heres the 4h signals

N

 

[jrplimited]

Hi N and whoever else out there,

Normally I'd be whooping and hollering as its Friday and that means splashing around in gallons of red nectar armed only with a straw, but of course today is the dreaded urgh NFP day as well, so its caution time - let me just look that word up in a dictionary for a moment....

GU First trade short entered at 46198 on open 08:10 bar, price rose slightly and ranged for four bars then moved up further and trade exited on close 08:45 bar for 18 point loss. Second trade long entered at 46466 on open 09:00 bar, price dropped down to threaten SL but then rallied back up again and chugged on northwards to new 09:45 local high then someone pulled the plug and down it came, trade exited during sharp 10:05 down bar for 19 point profit.

EU; First trade buy stop at 21842 filled during 08:55 bar, price staggered slowly up, paused then a bit of welcome momentum came in and pushed price up again then it faltered and printed worrying looking 10:10 bar so trade exited on close of this for 16 point profit. Second trade sell stop at 21794 filled by 11:05 bar, price levelled off for four bars then moved down, retraced back to entry level and recovered to go back down again, trade exited on close 11:55 end session bar for a trouser changing 8 point profit - which of course (!) was premature as price went on to bolt downwards.

EG; Complete basket case chart wise this morning so left this pair well alone.

Targetted only two trades maximum per pair this morning in lieu of the nfp data due out later on. Still not entirely convinced that trading on this day every month warrants the hassle and nerve jangling routine, I've also been looking closely at trading activities the day before [Thursday] as this seems very tough as well - any excuse for a monthly two day holiday eh?!!

Trade well and regards,
Simon.

 

[NVP]

Hi N and whoever else out there,

GU First trade short entered at 46198 on open 08:10 bar, price rose slightly and ranged for four bars then moved up further and trade exited on close 08:45 bar for 18 point loss. Second trade long entered at 46466 on open 09:00 bar, price dropped down to threaten SL but then rallied back up again and chugged on northwards to new 09:45 local high then someone pulled the plug and down it came, trade exited during sharp 10:05 down bar for 19 point profit.

EU; First trade buy stop at 21842 filled during 08:55 bar, price staggered slowly up, paused then a bit of welcome momentum came in and pushed price up again then it faltered and printed worrying looking 10:10 bar so trade exited on close of this for 16 point profit. Second trade sell stop at 21794 filled by 11:05 bar, price levelled off for four bars then moved down, retraced back to entry level and recovered to go back down again, trade exited on close 11:55 end session bar for a trouser changing 8 point profit - which of course (!) was premature as price went on to bolt downwards.

EG; Complete basket case chart wise this morning so left this pair well alone.

Trade well and regards,
Simon.

hey mate - swings and roundabouts this morning..

heres the gameflow on a 5min hybrid

have a good weekend - enjoy the weather
N

 

[alan5616]

Still in test drive mode with the Porsche 911 Carrera but, just took my first live trade for a quick scalp of 11pts on Short EU. Looks like I got out at the right time judging by the way the EUR is now flying up.

 

[NVP]

Still in test drive mode with the Porsche 911 Carrera but, just took my first live trade for a quick scalp of 11pts on Short EU. Looks like I got out at the right time judging by the way the EUR is now flying up.

Ignore us everyone - we have a new toy in test mode

I will continue to post here my Scalper signals / observations and anything else that takes my fancy & other regulars will to - especially our own pipmaister JRP

I will let everyone know when more corrie hybrids are available for release

have good weekends all.....in the UK the sun is shining weather is SWEEEET
N