Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

hey S :smart:

you really need to reach out to tom and his team and get some support and help for the money you've paid...........

its not toooo bad once you learn the basics.....if I can learn it anyone can !!!!

this thread kinda goes through strengthmeter theories and principles but you will need to dig in from day 1 here and follow it through........also why not look at some of my videos on youtube (fxcorrelator channel)......perhaps the setup videos

My daily posts here are probably a little advanced for newbies until you understand what my FXcorrelator is doing to be up to speed .........and I spice things up with correlations to the Dow30 so that can confuse Newbies as well

dont give up on this approach though as I truly believe the understanding you get of the Forex market dynamics is unbeatable...........

Best wishes and ask questions here if needed my friend.........we also have a lot of experienced/talented people that are alongside me here but dont necessarily post much as theres no need to unless people ask for help.......

N

 

[NVP]

actually ive been thinking about a more back to basics set of videos regarding what we do here.................so let me get one off tonight and load it up here tomorrow

lights , camera, ACTION !!!

N

 

[NVP]

basic guide to strengthmeters

Hello,

Guys please help me am begging.
Am a newbie.
I bought Toms Strength Meter.
But i dont even know the basics of forex,, i have read the forex grail but i dont understand it.
I heard i dont have to learn a lot in forex before using the meter.
My question is this.
What do i need to learn?
please help me

Hey S and everyone

this is what strengthmeters can do............and this is just touching the surface

and a corrie shows 28 paircharts on 1 screen.......sorry long day !

N

 

[montmorencyt2w]

Hi Neil,

I have been an occasional reader of this thread for ages, although very rarely posted.

I always enjoyed your posts, but only recently have discovered the videos which are also very good; the energy is quite inspiring!

Although I was very interested in the principle of correlation, I was specifically trying to get away from indicator-based trading at that time, and went in a different direction, more fundamentals-based, and longer-term, with a little simple price-action and minimal TA.

(You may remember I mentioned Ashraf Laidi and his "intermarket Analysis" approach).
I had some good success with that last year, although my trade-management let me down badly on occasions. I've been working on the latter, and hope I know how to avoid the major problems.)

Anyway, for this combination of reasons, I never tried "Corrie" per se, but was always interested in its success, and I can see that it is a method that works. Curiously I never thought of it as a strength-meter which was a bit dumb of me since I did know about the concept from hearing Tom Yeomans speak. I was interested, but again, was afraid they were a bit too "indicator-like" for my taste.

Well, for various reasons, I've been getting interested in strength-meters again, but actually thought of giving Tom's latest Accustrength a go. I happened to notice that you made a posting or two about it here, last July or so (and maybe others I haven't seen), and wondered if you had had chance to try his more recent efforts.

Interesting that there should be (quite co-incidentally) a recent post from someone else on the subject. Hmm....I would think that you really have to be a fairly experienced trader to attempt to use a strength-meter sensibly, whatever it is.

I think one of the reasons that has convinced me to give it a go is his source of data, which is not biased by being from a broker (and dependent on MT4). It also covers more currencies I believe. I would be interested in hearing from any visitors to this thread who happen to have tried Tom's recent stuff (PM me if you wish to keep this thread clear of non-Corrie stuff). If and when I do start with Accustrength, depending on how it goes of course, I may start my own thread to discuss it (I wonder how I can do this without it looking like a sales pitch? - hm....you'd have to take my word for it that I certainly wouldn't be getting any commission out of it (I wish!). Not (of course) as any kind of competition to this thread, but as an interesting comparison - you are clearly very keen on the concept of strength meters and I think you rate Tom quite highly, so I venture to think you'd be quite interested in seeing how anyone got on with his current stuff. I suspect it would be at least a couple of months before I was ready to post anything meaningful.

I should say that I've had a go with one of the free MT4-based ones that one can find on the web (probably cribbed from one of his early ones, if the truth were known). I could see that it had potential, but the later ones look a lot more powerful.

I should also say that I would not be using any strength-meter on its own, but as, for example, confirmation of a trade indicated by my other methods (or disconfirmation).

Cheers,
Mike

 

[montmorencyt2w]

this is why I dispair at moneyweek

jees just stick to charging us £3 a week for a semi decent publication :whistling


http://www.fsponline-recommends.co....479193&g=0&r=Milo&s=263310&o=260603&l=211977&


N

Yeah, I bought my first (and last! - I was an innocent newbabe) signals racket based on an advert from Moneyweek, to which I subscribed at the time. I eventually stopped it, but I still get their free emails. Some good articles occasionally.

 

[jusiur]

Thanks for your share your knowledge and experience in this thread. I'm new to this forum and I want to ask you how to incorporate this technique and indicators in to a M2 offline chart?

 

[NVP]

Hi Neil,

I have been an occasional reader of this thread for ages, although very rarely posted.

I always enjoyed your posts, but only recently have discovered the videos which are also very good; the energy is quite inspiring!

Although I was very interested in the principle of correlation, I was specifically trying to get away from indicator-based trading at that time, and went in a different direction, more fundamentals-based, and longer-term, with a little simple price-action and minimal TA.

(You may remember I mentioned Ashraf Laidi and his "intermarket Analysis" approach).
I had some good success with that last year, although my trade-management let me down badly on occasions. I've been working on the latter, and hope I know how to avoid the major problems.)

Anyway, for this combination of reasons, I never tried "Corrie" per se, but was always interested in its success, and I can see that it is a method that works. Curiously I never thought of it as a strength-meter which was a bit dumb of me since I did know about the concept from hearing Tom Yeomans speak. I was interested, but again, was afraid they were a bit too "indicator-like" for my taste.

Well, for various reasons, I've been getting interested in strength-meters again, but actually thought of giving Tom's latest Accustrength a go. I happened to notice that you made a posting or two about it here, last July or so (and maybe others I haven't seen), and wondered if you had had chance to try his more recent efforts.

Interesting that there should be (quite co-incidentally) a recent post from someone else on the subject. Hmm....I would think that you really have to be a fairly experienced trader to attempt to use a strength-meter sensibly, whatever it is.

I think one of the reasons that has convinced me to give it a go is his source of data, which is not biased by being from a broker (and dependent on MT4). It also covers more currencies I believe. I would be interested in hearing from any visitors to this thread who happen to have tried Tom's recent stuff (PM me if you wish to keep this thread clear of non-Corrie stuff). If and when I do start with Accustrength, depending on how it goes of course, I may start my own thread to discuss it (I wonder how I can do this without it looking like a sales pitch? - hm....you'd have to take my word for it that I certainly wouldn't be getting any commission out of it (I wish!). Not (of course) as any kind of competition to this thread, but as an interesting comparison - you are clearly very keen on the concept of strength meters and I think you rate Tom quite highly, so I venture to think you'd be quite interested in seeing how anyone got on with his current stuff. I suspect it would be at least a couple of months before I was ready to post anything meaningful.

I should say that I've had a go with one of the free MT4-based ones that one can find on the web (probably cribbed from one of his early ones, if the truth were known). I could see that it had potential, but the later ones look a lot more powerful.

I should also say that I would not be using any strength-meter on its own, but as, for example, confirmation of a trade indicated by my other methods (or disconfirmation).

Cheers,
Mike

Hey M

Welcome to the thread and muchos respect as I have seen your contributions in many threads here......

My approach here has been watched (and trialled to a degree) by a lot of experienced traders who have chosen never to post that much but approached me on pm's and my gmail address

many of them nod to my enthusiasic (although naive at times ) approach and acknowledge the potential of strengthmeter based indicators (as a support to their main indicators) but generally continue to follow their own customised systems

This is not a problem , and to be honest I dont blame them, given I only really discuss here probably 25% of what I am doing privately with this approach and try to offer here a generic thread that hopefully tempts viewers to at least taste the Strengthmeter brand and develop it to their own tastes

I would be delighted for you to examine this approach and tom's systems here or perhaps on a seperate thread where I will be an active participtor if needed

Neil

 

[NVP]

Yeah, I bought my first (and last! - I was an innocent newbabe) signals racket based on an advert from Moneyweek, to which I subscribed at the time. I eventually stopped it, but I still get their free emails. Some good articles occasionally.

moneyweek is an ok'ish weely comic although the forex articles can be hilarious....they really need to buy in an expert on forex instead of the generalists who contiue to post clumbsy and contentious pieces that are purely to to get people biting

like me - who has now been banned after to many sarcastic responses that they had simply had no answer to

I remember a piece last year where one commentator was talking about a contrarian call on the yen direction and I bit.......it was a rediculous call that proved wrong and I merely stated they needed to think more about what they were doing to the general public :smart:

N

 

[NVP]

Hello,

Guys please help me am begging.
Am a newbie.
I bought Toms Strength Meter.
But i dont even know the basics of forex,, i have read the forex grail but i dont understand it.
I heard i dont have to learn a lot in forex before using the meter.
My question is this.
What do i need to learn?
please help me

hey M............heres a newbie who would appreciate the new thread :smart:

 

[NVP]

Thanks for your share your knowledge and experience in this thread. I'm new to this forum and I want to ask you how to incorporate this technique and indicators in to a M2 offline chart?

ummm...........whats an M2 offline chart ?

N

 

[jusiur]

ummm...........whats an M2 offline chart ?

N

When you use an script in M1 to carry data in to an offline chart in order to obtain Range bars or renko . . .

 

[NVP]

hey all

heres the overnights..........again nice correlation of a dow rise and tag team fall yields some nice pips buying the stronger G6 currencies when thy get above the 80ma and the 20ma on the 5min corrie...

N

 

[NVP]

nice gbp sells warming up ?

 

[NVP]

nope gbp is gonna lag south whilst the euro laps up some more rises !

 

[NVP]

interesting morning..........

just a gbp sell would have been open to me recently..........:smart:

heres why
N

 

[NVP]

Thanks for your share your knowledge and experience in this thread. I'm new to this forum and I want to ask you how to incorporate this technique and indicators in to a M2 offline chart?

hi J

if its offline i suspect its of no real use...as you need to be getting immediate feeds / information to make trading decisions for this baby

if you are looking to download historic data then the FXcorrelator can be downloaded as any indicator could be from the MT4 platform set up on a 1m chart - I dont know how though - sorry

N

 

[NVP]

remember my comments last week regarding using horizontal lines on a 500/1 FXcorrelator MA setting to identify potential overbought/sold positions

here they are working today on the Yen and the Euro..........that was a perrrrrrfect setup if supported by a rising Dow signal (which happened)

Nice

N

 

[NVP]

hey - let me add some more History to that picture.....see how pronounced and obvious this was :smart:?

you just have to allow it to sucessfully confirm with some simple price action signals
(HH for the euro and LL for the Yen).........and also watch for the more standard stuff
I preach here re ma alignment and the dow

the Yen did tease a little first but hey nothings perfect !

N

 

[NVP]

G/U buy is looking real tempting..............the dow is back in north mode and gbp looks ready to pounce north

 

[NVP]

buying E/J may come on again soon but that has been a classic trade already today as discussed