Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

6808 now so b/e is achievable

 

[NVP]

later ...duty calls ..........this dipping in and out is a pain in the butt....apologies

N

 

[mike.]

Hi N, just using the correlator to pick short term scalp trades today on the 5min t/f. made 25 pips, just entered short on E/U at 1.3855, looking to hit 1.3840 area. going by the correlator, i think the euro has run out of steam and dollar is gaining strength this afternoon, no stop set, just watching the price action.

 

[mike.]

well, that was a quick trade, out for + 15. Should of stayed in maybe, I think there's more pips to be had yet.

 

[be-positive]

well, that was a quick trade, out for + 15. Should of stayed in maybe, I think there's more pips to be had yet.

well done --------- be happy with 15 ------ its when you start thinking maybe this or that -- the dung hits the fan

 

[mike.]

Agree, just bought into the retrace on the E/C, must of been a news release and the cad went of the top of the page on the 5 min correlator, starting to retrace now though.

Bailed out at - 4 pips, trade not going how i expected. Anyway, correlator still proving a useful tool even for short term trades

 

[mike.]

any idea guys how to re-set price feed time on my mt4 chart ? chart is showing 1 hour ahead.

 

[NVP]

Hi N, just using the correlator to pick short term scalp trades today on the 5min t/f. made 25 pips, just entered short on E/U at 1.3855, looking to hit 1.3840 area. going by the correlator, i think the euro has run out of steam and dollar is gaining strength this afternoon, no stop set, just watching the price action.

hi mike

jees did you hit that run correctly ...........USD went on the rampage north from around the time you posted this

N

 

[NVP]

morning all

looking back over yesterday I really missed all the fun buying USD

(I was in TC's all afternoon unfortunately grrrrr )

look at that greenback fly !.....

E/U sell had 20-30 pips on the table if you timed it right.....nice call from mike.......he called it even earlier at 3855.....excellent !!!

N

 

[NVP]

remember my simple strategy here is to check the position of the Green usd on the 1hr TF on a 20ma setting (see free links below for my indicator)..and then trade against it using suitable currencies on lower timeframes ..........i'm using the usd as it will cost you the least in spreads .and every pip counts

this is very very simple and I must confess the tip of the iceberg in where you can take this stuff as a trading approach ............try the indicator and play with it ......and bring it here if you want to discuss ideas ...........i've been playing for 14 years and i'm only now just warming up

many many expreienced traders use strengthmeters in their armoury these days ...........but I use it 100% as my strategy and edge

later
N

 

[NVP]

the pdf links below show a system I adopted for many years here at T2Win where I used the USD and the YEN as trading partners and also sprinkled in the dows direction (hence the title of my thread here)......... as I said I now keep the rules even simpler here (usd position) to show the power of the Indicator

does this dow system still work ?...........sometimes .........its just another of the ideas and approaches to experiment with until you find your path .........

also the links show my goldmeter trading system ........and other ideas we have discussed over the years that all have their merits .........all based on common sense ideas that need to be applied with discipline and patience

take a read here

http://www.trade2win.com/boards/forex/179468-forex-strengthmeters-basics.html

and also look through this mammoth thread .......once you have got the idea of how the Indicator works start playing with ideas from the menu attached below ..........that equates to literally thousands of options on the G8 forex family

so we are only just seeing the tip of the iceberg here ....and I am happy to help on that journey

later
N

 

[NVP]

jees i havnt even got my goldmeter on the latest cloud platform i'm using - must take a look at how its doing

 

[NVP]

market is very slow with the easter break..............will pop back later

N

 

[NVP]

any idea guys how to re-set price feed time on my mt4 chart ? chart is showing 1 hour ahead.

damned if i know dude ..............mines at GMT-1 .............Jedster will know

N

 

[NVP]

people miss the point with systems .......good or bad

lets imagine the best trading system in the world landed on your doorstep

you load it up and set it running

meanwhile mr Market unleashes a very very poor series of sessions that are choppy and painful

result is at best the trading system produces a series of small losses....could be worse if you wernt on guard.....

you get to the end of the week and call the system Cr*p and throw it in the bin

next week you load up an inferior product 2 but the markets are kinder ..........result you deduce that system 2 is better than system 1

do not pass go do not collect £200

its not the system .......most half decent systems are free and will produce profits in decent markets.............

sorry - its us traders that are the problem !

later
N

 

[NVP]

hey all

well the last day before easter was always going to be slow ........

at the end we saw the green usd return above the Zero and the turquoise NZD powerdive ...........a handful of pips on offer there selling N/U at the close of play

have a good weekend
N

 

[Knell]

Ello boysss/ladies I'm back!!!!

Jesus, how boring has T2W become? NVP, you're like an old pair of slippers....ahhhhh

Forex been a right bore over last 3 months, please tell me there is a worthy forum here somewhere .....please?

 

[Knell]

Oh well, who needs a system, looks like cable is good bet for a break out long.....

 

[NVP]

Ello boysss/ladies I'm back!!!!

Jesus, how boring has T2W become? NVP, you're like an old pair of slippers....ahhhhh

Forex been a right bore over last 3 months, please tell me there is a worthy forum here somewhere .....please?

forex factory ?........taxi for Knell

N

 

[NVP]

Easter monday will be slow .............


aside from that I see the USD is still bullish on the 20ma so stay on the USD buys for now..... .if at all.......

N