Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

ive got the yen north again.... but still the Dow is NOT falling ......i'm holding holding

cmon dammit GBP go north !!
N

 

[NVP]

a long trade for me ..........im about 10 pips down but holding .....its worth a little time more ......

 

[Mata Nui]

a long trade for me ..........im about 10 pips down but holding .....its worth a little time more ......

I am in the same trade.

 

[NVP]

5266...cmon baby fly !!!

 

[NVP]

out at 5269........thats enough excitement for that trade ......

good luck M

N

 

[NVP]

sure ....

it could easily fly now

but I was unhappy with the length of time to take to move ...and this is GBP ...that dude should really shifts when its in action mode ..

N

 

[NVP]

ok gotta scvoot

good luck M .....meanwhile all watch the EU sell (or even EJ sell) ......thats the next high probability trade

later
N

 

[NVP]

as i leave the GU got down to 5255......

Its just practice practice practice ........I managed the GU trade at a small loss but mitigated it instead of running away at -10 .....(or more at 5255)

every pip counts and if i am losing only 3-4 pips on the losers but taking 5-8 minimum on the winners at even 50/50 it gradually and slowly mounts up ....but then again the spreads kill you so really only EU is the sensible long term pair option to follow

No one said trading is easy ....and Scalping is the toughest of them all
N

 

[NVP]

i'm back and just looked at the 5 min charts.....

jees how do i feel walking away earlier from the GBP buy ......hahahahahahaha

N

 

[NVP]

hey all

decided to open up the screenleap now ....2 hours now rollin

have some fun....and drop in ....we have a tiny sell signal on the GBP

Viewing screen share 997378361 | Screenleap
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[NVP]

hey all ....gotta scoot tonight

more over the weekend
N

 

[stephensteve]

Thanks for your input, The charts posted are most educational and informative,

I think that the 5 min scalping is great fun, I feel that I should stay with the 1 hour and 4 hour charts though.

I shall attempt to post some charts on the Jap sessions, these will be pipping(I hope)

Have a nice weekend...

 

[stephensteve]

I have had a look at the chart, as posted, The question is, if there opposing currencies are quite near to the zero line, should I pursue the trade, sell US on it's own or walk away??




Thanks for your answer, cheers Steve

 

[Jedster2001]

I have had a look at the chart, as posted, The question is, if there opposing currencies are quite near to the zero line, should I pursue the trade, sell US on it's own or walk away??

View attachment 156862


Thanks for your answer, cheers Steve

That is not dissimiliar to a question I was posing recently about the zero line. The best position to enter is where two currencies diverge at the zero line. If you wait for the divergence to be confirmed, you have to ask yourself, at what point are you happy to enter? There has to be a pont (obviously) where you enter the trade. However, this decision has to be taken in balance with the fact that, the later you leave it, the more chance you have of hitting the end of the move, and worse case, take the trade in completely the wrong direction.

I am not sure there is a definitive or right answer here. However as so often is the case in trading, I think it comes down to judgement and experience...

Right, far too late to be answering questions so seriously... it is gone 1am so I think probably best I get some sleep...

J

 

[stephensteve]

Thanks for your helpful reply, I have a good look at the charts and see that you advice is all sound,

Cheers, Steve

 

[NVP]

That is not dissimiliar to a question I was posing recently about the zero line. The best position to enter is where two currencies diverge at the zero line. If you wait for the divergence to be confirmed, you have to ask yourself, at what point are you happy to enter? There has to be a pont (obviously) where you enter the trade. However, this decision has to be taken in balance with the fact that, the later you leave it, the more chance you have of hitting the end of the move, and worse case, take the trade in completely the wrong direction.

I am not sure there is a definitive or right answer here. However as so often is the case in trading, I think it comes down to judgement and experience...

Right, far too late to be answering questions so seriously... it is gone 1am so I think probably best I get some sleep...

J

My answer to the questions posed is the same for both Jedster and Steve

I dont know........sometimes the magic will work and sometimes it wont ....thats trading

our objective is to observe and trade high probablity signals in the market....if we truly have an edge then the long term sample results will yield us profitability in our trading - assuming we have excellent execution and money management

the best bit here and for all those viewing is that in my opinion Strengthmeter based signals have given us a quantum leap from staring at 1 pairchart and a few old indicators ....

we are seeing the market for what it is ......and thats a real advantage

I havnt got all the answers guys.....and I never B*S* people that I do....

(unlike all the junk e-mails, magic trading systems and other stupid trading products that the "experts" seem to bombard us with on a daily basis)

N

 

[NVP]

Mornin all .......before I respond to Steve heres the week so far and some ideas for today

the week has been a game of 2 halves (as they say in soccer)

Dow got stronger into tuesday .....but it couldnt suppress the Yen and USD south (or together) so trades were thinnish.......some euro buys by very late Tuesday evening

Wednesday DOW opened thru London am session flat.....but the yen and USD were already coming north and signalling intent .....GBP dumped off of bad economics and the Dow flow went south big making easy signals for us to sell the Euro & GBP (again) and even AUD for the next few significant hours and well well into thursday western sessions....


its all change now with Dow bouncing and the YEN and USD have gone South so we are looking at some buys on the aUD , GBP and soon the Euro today so far ....

Friday gameplan

hmmm...tough one ......

my first check is to see where traders will be locking in stops to ensure they preserve weekly profits......especially on the big Currency movers which this week are Sterling (short) and Yen (long)

Sterling has roughly already retraced over 50% on this weeks sell action and is hanging around the lows of last weeks low (resistance point ?) ...... Yen is into its third consecutive week of winners and is currently showing roughly at 25% retrace on the weeks high....see the 500ma chart below where I look for this level of detail

so where is the Dow going today ?....... its bounced back 50% on the highs of the week already so not as much to play with on predictions there....gut feel tells me more downside now but thats not gonna pay the rent

Based on above I would actually just go with the flow on whatever TF you are using.....if its the 15m trade 20ma with normal signals ....and 5 min is scalping anyway so who cares about the 4hour TF ....

later all ...I'll put a screenleap up later if I can scalping the 5mins
N

hey all

this was what I was saying yesterday morning.....I was pretty neutral on trades and we simply went with the 15m charts in the day

as it appears GBP was the big trade of the day....as i had pointed out above it had already retraced back over 50% on the week and was hovering around the prevous weeks low as a classic reisistance point...

a weak day and then the ultimate hit.........moodys call the loss of the AAA rating .......

about bloody time ......worst kept secret in history.....now GB UK - can we get on please ?

later
N

 

[Dildubai]

Hello friends. The FX correlator does not load on my MT4

Did anyone else have such a problem? if so how did u fix that?

Thanks in advance DD

 

[stephensteve]

Hello friends. The FX correlator does not load on my MT4

Did anyone else have such a problem? if so how did u fix that?

Thanks in advance DD

Hi, Hope I can help...have a look at the guide again, the bit that says load"""..computer,windows,metatrader4,program files,expert,indicators, """"leave it a moment and it should get into your Custom indicators,

right click and choose load onto chart,(put up a Dow chart Prior to this )

Cheers, Steve. ps one more sleep til a new exciting week with the Corrie..!!:clap:

 

[stephensteve]

Hi, this is a chart for your perusal, I have demo account traded both Gold/US and AUD/US.

I am watching and waiting, this is so cool..!!

Cheers, Steve