Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

I am also not as sceptical of my baby as I was a while back either......compared to most stuff it holds up well and its free !

heres last week on the Scalper (4hr TF)......mega pips delivered early in the week for the Eurotribe


oopps - Cliff's just filled up the bus again with petrol...and that nice una stubbs is with us now !

just coming Cliff, please dont sing without me...... :clap:

NVP

 

[NVP]

I really liked what I saw of a guy called the bramble as well....does anyone know what hes up to now or where he posts ?

N

 

[NVP]

Hi all

just popped in to see whats happening

All I see is huge amounts of new searchers for easy money and wealth spawned by the global recession............makes you want to weep unless you are a marketeer, in which case you can order the new Mansion now (not mentioning names of course :innocent....easy pickings everywhere for them in cyberspace ......desperation always breeds profit for them and their ilk.....

NVP

Fellow Trader,

OracleTrader is now LIVE! After a stampede of new
users came onboard (after attending pre-launch 'Closer Look'
webinars), Dustin Pass and his team are now opening up OracleTrader
registration to EVERYONE for a limited time.

They just posted two very exciting and eye-opening videos from last
Friday's news releases that will make your jaw drop!

These videos outline not only new traders, but experienced veterans
quickly and easily pull in over 100 pips in total, in less than 4 minutes
per trade!

Still no names mentioned......but hes a real favourite of mine...

 

[NVP]

Hi all

still mootching around elsewhere at the moment sticking my nose in when I can....
:innocent:

heres the 1hour 20ma scalper in action this week....the falling dow has kept the tag team mainly above the zero with some nice pips around - mainly on selling the Euro and GBP........

for the 1hr chart use the 15m for confirmed entries ensuring tag are same side and your favoured currency is on the other.....

second chart shows 9.15ish was a nice time to start selling stuff again and buying TAg team .....interestingly this signal has come with a rising (retrace) Dow futures signal, so if the dow starts to tank again on opening it should supercharge the move further...hmmm

back again soon
N

 

[NVP]

Hi all

hope everyone is well.......will be back soon and posting some hopefully interesting thoughts

N

 

[NVP]

Hi all

after 2 weeks of hammering global forums i'm nearly home.....

to be honest only 1 real thread still strikes a note with me and I am currently re-reading captain currency's thread to pick up every crumb he offers (ouch )

by going back to grass roots on a briliantly simple triple ma system I am seeing new angles and intepretations of my own humble Corrie.....especially my 20ma scalper which really should be pitched at minimum 15m TF level (supported by the 1h and higher) and not any lower as its just to much noise on the 5min....

Alan and I have discussed this many times here and he is right

newbies ...if you do nothing else read the 3 ducks thread here.....its magic and you will also get to read posts from the royalty of t2w who all popped in at times....you wlll know who I mean once you read them :smart:

N

 

[alan5616]

Hi Neil,

Good to see you still around. I still believe that money can be made using Corrie on a 5 min chart. However, a different approach may be worth considering.

Let me expand on this a little bit. Without decrying the 3 duck's method, most trend following systems lose money, for the simple reason that markets only trend about 30% of the time. I know, to my cost, that they don't work. I've bought a few, over the years, and they lose money over the long term. In choppy markets, they lose money in the short term as well

An idea that you may explore is to use an RSI (10-14 period) and then wait for the RSI to go OB/OS. Lets assume, for this illustration, that we're looking to trade GBP/USD. The RSI goes below the 30 level so, GBP has gone down. Wait for Corrie to show Red crossing above Green and take the trade as it's likely that the down move is over for the time being. You might be pleasantly surprised by how well this works. It can be used on any tf from 5 min upwards.

I've, recently, changed my trading approach completely. I now trade counter trend and have been far more successful. It's a statistical fact that 95% of day traders lose money and I think that the old cliche "the trend is your friend" may have something to do with this. It's quite rare for a major currency to go in one direction for 14 hours (Black Swan events excluded) without a correction along the way.

Look forward to your next visit

 

[NVP]

Hi Neil,

Good to see you still around. I still believe that money can be made using Corrie on a 5 min chart. However, a different approach may be worth considering.

Let me expand on this a little bit. Without decrying the 3 duck's method, most trend following systems lose money, for the simple reason that markets only trend about 30% of the time. I know, to my cost, that they don't work. I've bought a few, over the years, and they lose money over the long term. In choppy markets, they lose money in the short term as well

An idea that you may explore is to use an RSI (10-14 period) and then wait for the RSI to go OB/OS. Lets assume, for this illustration, that we're looking to trade GBP/USD. The RSI goes below the 30 level so, GBP has gone down. Wait for Corrie to show Red crossing above Green and take the trade as it's likely that the down move is over for the time being. You might be pleasantly surprised by how well this works. It can be used on any tf from 5 min upwards.

I've, recently, changed my trading approach completely. I now trade counter trend and have been far more successful. It's a statistical fact that 95% of day traders lose money and I think that the old cliche "the trend is your friend" may have something to do with this. It's quite rare for a major currency to go in one direction for 14 hours (Black Swan events excluded) without a correction along the way.

Look forward to your next visit

hi mate

Some really good points here and great to see you are continualy reviewing and honing your skills to stay ahead of the curve.....

i'm going to return to the table here soon with some of my own insights....and they wont be advocating scalping to be honest....

I guess my response to all your valid points is to use and abuse the corrie as required alongside whatever you prefer as a system .....its a fairly simple ma based indicator and we have only ever discussed on this thread settings that seem to be relatively robust for a % of the time (ie trends)

the corrie possibiities are infinite and we are always open to contributors

for me some higher TF settings and even more emphasis on simple price action will be the go...........the RSI is a good indicator but I'm trying to keep the undicators down to a minimum if I can :smart:

dont forget the golf though......the handicap must be bandit level now !
N

 

[NVP]

Hi all

My little holiday is nearly over and as we approach the 1st birthday of this bouncing baby thread (26th Aug) I am just putting the finishing touches to a FXcorrelator system that will hopefully stand the test of time and be here long after this thread dies....

it wont be perfect (nothing is) but it will provide a robust and sensible system based around relative currency strengths (naturally ) that will tell you when to trade with specific Entry and Exit points...

and it will be free as usual

enjoy the week
N

 

[NVP]

last weeks action :-

heres the FXcorrelator on a 20ma (the scalper) setting used on a 4h TF

scalping off the 5mins and 1mins may be for some people but to make some consistent money (IMHO) you really need to be stepping up the timeframes

200+ pips last week on the EURUSD pair and still in motion
N

 

[NVP]

ah the joys of new system testing...........

made some steady pips this morning following the rules on higher TF's and behaving myself (pride pride )

in the last agonising half an hour Ive watched the GBP carve up USD in a brilliant buy.....but the higher TF's wont signal the trade yet.....

jees - absolute bloody agony
N

 

[forexkunta]

I wouldn't sweat it too much, just a little correction before a 3rd wave down for some major pips, on the 4H t/f.
Kent

ah the joys of new system testing...........

made some steady pips this morning following the rules on higher TF's and behaving myself (pride pride )

in the last agonising half an hour Ive watched the GBP carve up USD in a brilliant buy.....but the higher TF's wont signal the trade yet.....

jees - absolute bloody agony
N

 

[forexkunta]

Neil,
Just wanted to let you know that I downloaded Corrie, and am certainly impressed. Good job. I paid good money for another one some months back, and it is a memory hog. I may try to incorporate it into my trading. I am more of an Elliott Wave fan, and their methods, but I can see some use in it. I have been trading the higher t/f's lately trying to reduce my overtrading on the 15m and 1H. I certainly like the laid back, less stress of the higher t/f. Thanks for a good indicator.
Kent

 

[benalta]

HI Neil - just to let you know that I am still using the corrie. I trade pure price action naked and corrie is the only indicator that I have on my charts. It's saved me from a lot of bad trades, and I for one really appreciate your work on this. Cheers.

 

[NVP]

god bless spikes......10am spike bar on the 5min just killed my S/L levels after some decent gradual wins on AUSUSD and EURUSD

they''ll keep going up now ...watch

jesus....
N

 

[NVP]

HI Neil - just to let you know that I am still using the corrie. I trade pure price action naked and corrie is the only indicator that I have on my charts. It's saved me from a lot of bad trades, and I for one really appreciate your work on this. Cheers.

can you teach me how to trade it ?

hahahahahah
N

 

[NVP]

Neil,
Just wanted to let you know that I downloaded Corrie, and am certainly impressed. Good job. I paid good money for another one some months back, and it is a memory hog. I may try to incorporate it into my trading. I am more of an Elliott Wave fan, and their methods, but I can see some use in it. I have been trading the higher t/f's lately trying to reduce my overtrading on the 15m and 1H. I certainly like the laid back, less stress of the higher t/f. Thanks for a good indicator.
Kent

no problem - you're welcome Kent

N

 

[NVP]

god bless spikes......10am spike bar on the 5min just killed my S/L levels after some decent gradual wins on AUSUSD and EURUSD

they''ll keep going up now ...watch

jesus....
N

what am I doing on the 5 mins ....?

USE HIGHER TIMEFRAMES - NVP

 

[Adamus]

HI Neil - just to let you know that I am still using the corrie. I trade pure price action naked and corrie is the only indicator that I have on my charts. It's saved me from a lot of bad trades, and I for one really appreciate your work on this. Cheers.

Sounds like a similar style to what I've been doing - just the price and no indicators. I was thinking it would be a good signal to get in on a trade when the corrie is signalling and when there's a big candle going in the same direction, where 'big' is larger than the ATR for that timeframe.

Edit: just realised I'm giving the impression I'm trading off the Corrie - which I'm not - yet

 

[NVP]

ok a 15m hat on so gradually weening my self upwards in TF

The swissie is holding its ground below the 15m 20ma and the 1hr 20ma on the scalper settings / charts (not shown) ******
could be a push down coming if it holds...but what to buy ? (clue its not going to be usd) :smart:

Jees - The USD has been phenomenally weak now since early June and Kent looks indeed correct on its recent climb thru August just being a hiccup on its frightening journey further south.........

heres a 4Hr TF chart (on a 500ma corrie setting) to show its incredible demise to date - RIP the Dollar
N

**** see the Grey Line below which is the Swissie......my signals above on 15m and 1hr dont exactly look a bargain sell signal against the upwards trend on the 4hr chart below eh ?

Timeframes will make or break you....just get organised on what you want to do re targets and what timeframes to use and all will be fine...but be consistent

One timeframes uptrend is another Timeframes downtrend