Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

ok i need to pop out for a few hours

my primary scalp pair today was EJ sells ....no complaints ....i have scalped somewhere like 15 times in that 7 hour period all the way down through the 80-90 pip sell range

why ?

because Yen was an alpha bull and Euro was an alpha bear ALL MORNING

alpha meaning they were 1st or second lead currencies in the G8 in direction indicated

its not rocket science guys ...ive been trading this for nearly 20 years..... before most Strengthmeter indicator experts were even born ....hahahaha

BUY STRENGTH / SELL WEAKNESS

of course the devil is in the detail ..........but thats another story

N

 

[NVP]

all changed in US session .....

I see that Euro came back bull......yen and USD and CAD all went bear ......

hard work though .......i would have waited for E/J to go above 127.13 to be safe and E/U to breach 1.1565 also to be safe ........only 20 pips ceiling on E/J and E/U from those levels ...so scalping would have been slow and painful

when you get a big reversal from london to NY session its harder to get back in ....when the sessions just keep trending the same way its easy easy easy

never mind .....have a good day
N

 

[NVP]

hey all

i was a laptop short this morning so couldnt really post as well .....sorry

bloody hard work this morning ...nothing would break out into a decent run

eventually i got some GU cable buys scalped .....but the issue was that USd was very choppy AND only NZD,CAD and Swissie were breaking south ..........

messy !!!!

anyway GU was the play for me ..........but only above 3170's to 3199 so far and thats after 12 oclock... ....hardly a pipfest

N

when you get a light morning session it usually means a good NY open ..lets see

 

[NVP]

us session has again been a slowish start .....

ive managed to get that bounce off the 3170's from cable as rebuy levels ......3214 / 15 now so not tooo shabby

N

 

[NVP]

hey all

i'm still 1 laptop down so cant post much

excellent morning now in market ...im pretty done now

SELLS - EURO and GBP ..... they've both nearly hit the 50 pip sell levels from 6am BST

BUYS - Yen , Swissie , USD...but all pretty choppy at times

heres GU action - my favourite Pair if my FXCorrelator tells me to trade it ...50 pip range to sell down to so far ........shame that the Green USD was not more bullish at times when red GBP fell

20 ma default FXCorrelator shown on 5 min TF (available free in links below)

hey - i cant have it all !

N

 

[NVP]

usd has been creamed in last 2 hours ...sell sell sell

sterling has made an epic u turn from earlier london selling

these are the tough plays mid session when currencies reverse .....hard to play as you are initially waiting waiting waiting for them to go back into trend

gu has been 100 pips up from where i stopped trying to sell it earlier now ...plenty of buy scalp opportunities gang .and its still coming north !!

GBP the buy gang ...all the way

N

 

[NVP]

someone just emailed me and asked how long i waited to decide to start buying GU ......heres my answer

i have to know that all S/R levels i was trying to use to trade that currency or pair are exhausted and breached ...then i reverse my trading (if all criteria is met and that pair is still an alpha pair to trade)

so see below .see how S2 and S1 have both been slammed/breached hard ?

thats game over in trying to resell GU for me .......i need to be buying if anything

this was actually an EASY SIGNAL .....we saw no hestitation in the interim retrace bars did we ??? ...1 way traffic !

from 3160's its all buy buy buys for me

N

 

[NVP]

average us session so far .....im pretty tired now

YEN has been the main Bull driver .....swissie at times been ok ....but choppy

usd has been primarily bear NY session....Early AUD sells , then CAD was ok ....

with yen so strong i really needed to see the euro weak to trade that pair .....thats my favourite Yen pair .....

heres from 14:00 hrs BST into NY openings ....ive seen 2 pushes worth hitting ...mainly out of that 127.80's ...driving the strong yen when it presented

there were better Yen pairs but i like my spreads Loow !

N

 

[NVP]

morning all...

early days this morning but Euro is performing well on the Bull side....usd is a sell so far

EU is the best scalper in the 28 pairs in G8 at moment

cable also lurking for rebuys as well

N

 

[NVP]

not happening at the moment now .....slooooooow...back later

 

[NVP]

morning all...

early days this morning but Euro is performing well on the Bull side....usd is a sell so far

EU is the best scalper in the 28 pairs in G8 at moment

cable also lurking for rebuys as well

N

i'm just keeping it rolling on the EURO bull train...being patient and coming back in on positions where i see opportunities to bounce off Support levels

my strengthmeter indicators are telling me that euro is THE buy ...so i am just following what the market is telling me

now we are at 1650's ....i am looking for bounces ......

N

 

[NVP]

another 1672 spike ....excellent

 

[NVP]

as someone has commented on my other forums and website ....

yes i am on the EJ as well.....very similar dynamics to the EU at moment

but i am talking here just about EU to make it simple for people

EURO BULL RULES

N

 

[NVP]

when trading the G8 Forex currencies its easy to make money when all the dynamics are working well .....its very frustrating and unprofitable when they are not !

thats the real secret to being sucessful at forex ........

MINIMISE losses in the lean periods and then ensure you MAXIMISE profits when the G8 dynamics become favourable

you can go a whole session / day / week / month without those G8 dynamics becoming good ...thats the test ......and then other sessions like todays london morning are very very favourable ....you have to capitalise on them 1000% to offset the lean times

make sure you are killing the good days !!!!

 

[NVP]

ok the market more rangy now

euro still worth rebuying on bounces north , similarly for GBP

usd and yen still trendy south those those are the best combos as pairs this morning so far

have a good one
N

 

[Warren59]

Hello NVP,.Could you modify Triple Corrie that showing currency name when mouse point at the currency line. It will be a perfect indicator. I am a blind color.
Thank you

 

[NVP]

Hello NVP,.Could you modify Triple Corrie that showing currency name when mouse point at the currency line. It will be a perfect indicator. I am a blind color.
Thank you

hey warren

sorry - i'm not that good a programmer these days ....feel free to ask a programmer to amend it yourself .......theres no copyright on that one

go to any of the big programming sites...someone on freelancer.com will do that for $20 max ....

N

 

[NVP]

hey gang .....im on vacation for a while now

will pop in from time to time though

N

 

[NVP]

hey gang

on vacation .....although it’s been hotter in the uk than where i am !!

will be back soon.....hope you are all doing ok

N

 

[NVP]

back on thursday in UK ...been chilling mainly ....well apart from the england games !

also been doing a lot of work on mental attitude and meditation / visualisation ....really interesting

see you all soon

N