NVP
Guest Author
- Messages
- 37,934
- Likes
- 2,141
Hi mate
when you return we can discuss on this forum how to fine tune what you are doing :smart:
N
Best Thread Correlation Trading - Basic Ideas and Strategies
Hi mate
when you return we can discuss on this forum how to fine tune what you are doing :smart:
N
Zenda
Well-known member
- Messages
- 491
- Likes
- 10
its all there on a plate most of the time .........just follow the rules or even add some more of your own ...........just tell me please if you do improve on it
later
N
Hi Neil
Glad this Thread is going strong - I remember you emailing me when you first started it - Congratulations on its success Kind Regards John Bartlett
NVP
Guest Author
- Messages
- 37,934
- Likes
- 2,141
Hi JB
good to hear from you
.......hope all is going well ?
everyone John is well known in trading circles as a very experienced mentor and coach
I went on one of johns courses after a long absence from the trading world and found it no nonsence and straightforward with bags of good advice and JB offers affordable and very robust indicators/sytems that will always stand the test of time
john is very big on newbies avoiding the expensive marketeering systems that plague our business and you all know that is something I try to champion here as well
John also has a lovely house in France that looks great on his videos
...and for someone whos retired he works harder than all of us :whistling
N
good to hear from you
.......hope all is going well ?everyone John is well known in trading circles as a very experienced mentor and coach
I went on one of johns courses after a long absence from the trading world and found it no nonsence and straightforward with bags of good advice and JB offers affordable and very robust indicators/sytems that will always stand the test of time
john is very big on newbies avoiding the expensive marketeering systems that plague our business and you all know that is something I try to champion here as well
John also has a lovely house in France that looks great on his videos
...and for someone whos retired he works harder than all of us :whistling
N
NVP
Guest Author
- Messages
- 37,934
- Likes
- 2,141
Hi all
as i am gradually easing myself into more trading again when I can , I am comforted by Boris's words below......its not just me then :whistling
Science and Art of Trading
Last Thursday, during our monthly live trading session (26 wins out of the past 27 months, but who is counting) I spend a great deal of time explaining my latest short term trading strategy. We'd gone through all the various permutations of the setup, covering time of day, type of currency cross, spread criteria and a million other details that would make a novice trader believe that we could execute these ideas with the steely precision of fine Swiss watch.
Then of course when time came to actually trade, all hell broke loose. The news was good. No the news was bad. I went long pounds, then quickly changed my mind got out at a scratch and went short AUD/JPY. The Aussie trade moved quickly, and some traders entered late. I scrambled to cover half at a small profit as soon as I could and then quickly went to break even. I targeted the second half of the position at 1.5 times risk but when price stalled just ahead of my target I covered the rest and rightly so, because the pair quickly retraced back to original entry level.
On paper the trade looked like a well planned, well analyzed event risk scalp that yielded 50 quick points in a matter of minutes. In reality it was a typical clusterf* of a news trade with most people in the chat room banking just 35 points of the move.
Yet this is precisely why I love doing live trading. It demonstrates in no uncertain terms the wide gulf between the clean, crisp mathematical foundation of trading theory and the mayhem and chaos of trading practice. It shows that no matter how much we try to make it a science, trading will always remain partly an art.
But despite the messiness of the process, there was a method to my madness. Although the execution was hardly textbook, my trade management was governed by rules that we had developed at BK over years of experimentation. Those rules helped me react to the volatile price action and ultimately walk away with a gain rather than a loss.
In trading, just as in real life we need to rely on the logical foundation of science to conduct our affairs, but we also need the flexibility of art to adjust to the ever changing environments of the currency markets and greater world around us. I may be a skeptic when it comes to computer algorithms, but I am firm believer in rules based trading. It's what separates the pros from the novices.
amen
N
as i am gradually easing myself into more trading again when I can , I am comforted by Boris's words below......its not just me then :whistling
Science and Art of Trading
Last Thursday, during our monthly live trading session (26 wins out of the past 27 months, but who is counting) I spend a great deal of time explaining my latest short term trading strategy. We'd gone through all the various permutations of the setup, covering time of day, type of currency cross, spread criteria and a million other details that would make a novice trader believe that we could execute these ideas with the steely precision of fine Swiss watch.
Then of course when time came to actually trade, all hell broke loose. The news was good. No the news was bad. I went long pounds, then quickly changed my mind got out at a scratch and went short AUD/JPY. The Aussie trade moved quickly, and some traders entered late. I scrambled to cover half at a small profit as soon as I could and then quickly went to break even. I targeted the second half of the position at 1.5 times risk but when price stalled just ahead of my target I covered the rest and rightly so, because the pair quickly retraced back to original entry level.
On paper the trade looked like a well planned, well analyzed event risk scalp that yielded 50 quick points in a matter of minutes. In reality it was a typical clusterf* of a news trade with most people in the chat room banking just 35 points of the move.
Yet this is precisely why I love doing live trading. It demonstrates in no uncertain terms the wide gulf between the clean, crisp mathematical foundation of trading theory and the mayhem and chaos of trading practice. It shows that no matter how much we try to make it a science, trading will always remain partly an art.
But despite the messiness of the process, there was a method to my madness. Although the execution was hardly textbook, my trade management was governed by rules that we had developed at BK over years of experimentation. Those rules helped me react to the volatile price action and ultimately walk away with a gain rather than a loss.
In trading, just as in real life we need to rely on the logical foundation of science to conduct our affairs, but we also need the flexibility of art to adjust to the ever changing environments of the currency markets and greater world around us. I may be a skeptic when it comes to computer algorithms, but I am firm believer in rules based trading. It's what separates the pros from the novices.
amen
N
NVP
Guest Author
- Messages
- 37,934
- Likes
- 2,141
hi all
i was just tuning up my recently renewed worldspreads account and trading screens and noticed that they offer the usd index chart down to 1 min levels...
put a 20ma and a 100 ma on and you have the corrie scalper for usd on a nice standalone chart :smart:
shame the spread is such a pain (8 pips).........this could work a treat in hedging some of my trades...hmmm perhaps the higher timeframes then
in all honesty I dont give a monkeys about the movement of the usd as its normally as dull as dishwater....my primary concern is calling the other currencies move right re direction....as volatile currencies like gbp , cad and even yen will pay the mortgage...I just need the usd to behave and not move rapidly in the same direction as the opposing currency I decide to pair with it......
hmmmmmm
N
i was just tuning up my recently renewed worldspreads account and trading screens and noticed that they offer the usd index chart down to 1 min levels...
put a 20ma and a 100 ma on and you have the corrie scalper for usd on a nice standalone chart :smart:
shame the spread is such a pain (8 pips).........this could work a treat in hedging some of my trades...hmmm perhaps the higher timeframes then
in all honesty I dont give a monkeys about the movement of the usd as its normally as dull as dishwater....my primary concern is calling the other currencies move right re direction....as volatile currencies like gbp , cad and even yen will pay the mortgage...I just need the usd to behave and not move rapidly in the same direction as the opposing currency I decide to pair with it......
hmmmmmm
N
Attachments
Last edited:
NVP
Guest Author
- Messages
- 37,934
- Likes
- 2,141
hi all
heres 3 charts from differing timeframes .....simple 20ma scalper
its a solid robust little indicator and I recommend it to newbies......
look at the monthly indicator.....who needed soros in 2008 when the scalper was in town :whistling
N
heres 3 charts from differing timeframes .....simple 20ma scalper
its a solid robust little indicator and I recommend it to newbies......
look at the monthly indicator.....who needed soros in 2008 when the scalper was in town :whistling
N
Attachments
NVP
Guest Author
- Messages
- 37,934
- Likes
- 2,141
Hi all
sorry busy busy morning....just looked at screens
8am was the magic trade signal....rest has been choppy
I have a NZDUSD Sell trade on in my new worldspread demo to test if it all works ok....(I know theres not a signal on the scalper - just testing !!!) just waiting for the 5 pip trailing stop to kick in hopefully as the usd staggers up and nzd hopefully falls a little more....
ODL/FXCM did another upgrade yesterday - ive lost all my US charts this morning so need a little session tonight to make sure everythings working - to busy at the moment
later all :smart:
N
sorry busy busy morning....just looked at screens
8am was the magic trade signal....rest has been choppy
I have a NZDUSD Sell trade on in my new worldspread demo to test if it all works ok....(I know theres not a signal on the scalper - just testing !!!) just waiting for the 5 pip trailing stop to kick in hopefully as the usd staggers up and nzd hopefully falls a little more....
ODL/FXCM did another upgrade yesterday - ive lost all my US charts this morning so need a little session tonight to make sure everythings working - to busy at the moment
later all :smart:
N
Attachments
NVP
Guest Author
- Messages
- 37,934
- Likes
- 2,141
here you go for all you newbies out there.see how reckless i am !
seriously - I am trading extreme scalper 1 min signals while trying to understand how the worldspread trailing stop works
I may finally be understanding how to use it as I gave away a lot earlier on
if your in virtual mode - trade to extreme to test the processes as you havent got the luxury to learn this using real money accounts......thats all its good for though really .....its only real money that makes you concentrate :smart:
N
seriously - I am trading extreme scalper 1 min signals while trying to understand how the worldspread trailing stop works
I may finally be understanding how to use it as I gave away a lot earlier on
if your in virtual mode - trade to extreme to test the processes as you havent got the luxury to learn this using real money accounts......thats all its good for though really .....its only real money that makes you concentrate :smart:
N
