Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

i didnt trade much today but my fxcorrelator is always watching the markets ....

heres the default 20ma setting on a 1 hour

DUMB-ASS BASIC RULE #1
you sell currencies below the line and buy currencies above the line

DUMB-ASS BASIC RULE #2
if in doubt always pick the USD in your trades and ensure you only trade in the direction it is showing (above below the zero line)

so looking at below ...........what side is the GREEN USD ?? = Answer above the zero ...so we are looking to BUY usd in pairs ....in fact hunting it from yesterday ......

look at the 2 charts ..........ive been hunting Euro from yesterday .......the blue euro line is a nonstop sell below the zero right ? .....right ?

look at the Cable (GU) chart ..........when the red line falls below Zero SELL CABLE ...........and keep selling it !!!!

im not going to tell you how to suck eggs gang .............im sure you all have wonderful systems to identify trading your favourite pairs and i am not going to teach you that

but there is only a 28/1 chance you are trading the right pair at any time (See here)

http://www.trade2win.com/boards/for...-basic-ideas-strategies-2645.html#post3031096

in the last 24 hours or so all i have been hunting is EU sells and then GU sells as they appeared ........in fact i will normally trade below the i hour timeframe and scalp them on offered decent signals into the trend

BUT i am only focused on just 2 pairs out of the 28 on offer ...........so i am already in my opinion focused on 2 of the main pairs that matter !!!..the others are not offering these high probability trades .....so i ignore them .......

have a great evening :smart:
N

 

[NVP]

this morning for london ive been playing usd sells (based on 1hr 20ma FXcorrelator signals for usd)

europeans the buy ......both gbp and Euro have offered some half decent plays but its bloody scrappy so far

5 min charts below

its turning over now ....but i will still hang usd sells for a while yet ....its just that europeans are selling as well as usd now ............i Can chase AUD and Cad instead more at the moment

but I do prefer to play the european currencies into usd during london session

N

 

[be-positive]

morning EU looks oversold so long here from 66 ? stop of -9

 

[lukeit]

that's sounds good!

 

[be-positive]

NVP hope you had a good morning shorting GU ( nice signals @6.45/50 am for the early bird ) also 8.25/30 and 9.10/15

 

[NVP]

NVP hope you had a good morning shorting GU ( nice signals @6.45/50 am for the early bird ) also 8.25/30 and 9.10/15

hey BP

sure ....usd was mainly bull from 7am london (BST)

I was working GBP , Euro , CAD ...even damn AUD sells at times ....

hard bloody work ...but a few pips in bag :smart:

yen is THE buy at moment ...its booming

N

 

[NVP]

yen has been a buy play all morning (alongside usd)

ive really been on it from around 10am BST (12.00 on my charts)

euro and usd the counter pairs to it for my main trading

best results in last hour or so ....excellent sell offs

N

 

[NVP]

hey all

back from bank holidays and market has been ok .......

USD yen and CHF all been BULL hot today like the weather .....ive been on usd buys into selling mainly euro, AUD, Cad and GBP .....

heres the 1 hour on a 20ma FXCorrelator (Free in links below)

look at the Grey (CHF) , Green (USD) and Yellow (YEN) lines .....pretty positive eh ??

what are you waiting for ?

N

 

[NVP]

highlights so far this week

I am using my free FXCORRELATOR indicator (links in signature area below) on a default 20ma setting on the 1 hour chart...the information below is simply looking at the currencies that outperformed the others either above (buys) or below (Sells) the zero line on the indicator - SIMPLE ! :-

MONDAY
weak Euro / CHF
Strong USD / GBP

TUESDAY
weak CAD
Strong Yen / USD / CHF

WEDNESDAY
weak Yen
Strong CAD / GBP

THURSDAY
weak NZD / GBP
Strong CAD / EURO / AUD

FRIDAY
Well - what do you see ? on chart .....

personally i'm gonna play some bear european plays into usd and yen for london session ....its already shaping up ok for that ....heres the 1 minute action from 7am BST so far for EJ .....ive been on it selling from around the 130.30's now down to 130.00 so far so no complaints !

the EJ pair is THE best performing currency pair in the G8 so far from 7am BST......

why was I on it and trading it ?...........because i always incorporate my forex strengthmeter strategies to ensure I am on the best performing pairs in the 28 G8 pairs all the time ! ......simple simple simple

have a good one .... I am so far
N

 

[NVP]

waiting as the market consolidates a little after the 7am BST moves ............bit choppy at moment ......

happy to keep reselling europe when offered ......gbp has got some serious serious positions here if it resells

EJ looks a possible now selling down from 130.20 area......just waiting for some confirmation ...

N

 

[NVP]

id look hard at GU sells guys 3525 sells

 

[NVP]

i got it to 3518 then it reveresed ........fast fast scalp gang

 

[NVP]

usd really really now telling me its gonna sell this session .........so adjusting accordingly ............europe was selling as well so cramps a lot of my pairs

 

[NVP]

volatiliy has fallen off ..........we have to be patient for the next run

 

[NVP]

ok back later .........I am realling looking for some EJ resells from 130.20's levels

but the market needs to show me that

later
n

 

[NVP]

gu will be a buy aboove the 3532/33 breakout level ....just be careful

 

[NVP]

sold ej at 130.20 .....stop at 130.26

 

[NVP]

came out at 130.20 again as the market turned (small loss)........i dont wait for stops to hit if i see conditions change.........i will go in again if i want to later ..........

 

[NVP]

real choppy gang .......i was hoping the tantrums were over .but not yet

 

[NVP]

markets tricky guys ....still very slow now ........back later as chores to do

N