Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

still selling EJ at the obvious areas ......see chart below

actually usd has gone strong bull since 8am so i have been more plundering usd buys into decent selling currencies .....GBP is as good as any to be selling into usd at moment see chart 2

guys trading forex is not rocket science....all you have to do is follow the currencies that are trending

sure theres a little more than that .....but thats all detail compared to getting the bigger picture from strengthmeters like my FXCorrelator

N

 

[NVP]

Recently lots of online academies and mentor traders and organisations seem to be teaching Strengthmeters as something they invented ?.....seriously ?

Strengthmeters have been around at least 20 years on retail market charts ...I was one of the pioneers developing and Trading them back from the early 2000's

so these guys need to refresh their very short term memories (alongside all the other BS they claim)...they didnt invent this wheel

N:smart:

 

[NVP]

ok ......my last post was GU heading into 3190's hunting resells

usd has continued to get stronger now having pushed 35 pips north from earlier london lows

thats not bad for a session off the greenback ....and i got in pretty early as well

so again steady eddie trading.....heres where i was working cable .....down from 3190's to 3150's .............scalping on small stops you can hammer some serious pips on such dynamics

yen has faded so im not really trading so im out of EJ sells.... although Euro is seriously getting bear hits now and im on EU sells .....perhaps falling back into EJ as well soon

im pretty tied up soon so will not be around ...cheers

N

 

[NVP]

tooo easy now ..usd on bull rampage as NY fires up

usd on a +60 pip retrace from london session lows earlier ......swissie is actually chasing usd hard on a risk on scenario (?)......anyway euro and gbp getting equally battered

split the correlation risk or just pick one ....they are identical at moment trading them ...30 pips down from last post above

N

 

[banawa]

RE: Southern cross trader

Recently lots of online academies and mentor traders and organisations seem to be teaching Strengthmeters as something they invented ?.....seriously ?

Strengthmeters have been around at least 20 years on retail market charts ...I was one of the pioneers developing and Trading them back from the early 2000's

so these guys need to refresh their very short term memories (alongside all the other BS they claim)...they didnt invent this wheel

N:smart:

he he corrects men you were the first to introduced cheers men

 

[NVP]

hey banawa

how are you ? are things going ok ?

N

 

[banawa]

hey banawa

how are you ? are things going ok ?

N

hello my friend all good but getting old thanks again

 

[NVP]

hello my friend all good but getting old thanks again

yes we all are

 

[NVP]

hey all

long hard morning on g8

swissie is THE sell .........its off some 30 pips from 6am opens ...not much but thats all thats on offer so far really

i did get it up from 9940's earlier ....then it got tougher and its faded now (Chart)

the swissie is still falling but so is usd so that makes them a nogo pair to trade

not sure what us session will bring .... CAD, usd and Yen team are bear so far ...early days

N

 

[NVP]

hey all

cruising away this morning ...im not at home so sorry - havnt got all my spare laptops to post regularly

so far the usd has been a nice steady SELL alongside Yen ....both out to -20 pips south from 6am opens

easy ride on GBP and EUR buys at times and EJ .....just picking my scalps when they come

heres the GU and EU charts

N

 

[NVP]

hey gang

been scalping away ..........today we have seen a real real bear Yen gang....its activity has driven the most profits this morning ....ive been hitting UJ sells and EJ buys at times

usd wise ? ......aside from the UJ then GU buys been ok ....

but EJ has offered me a 70 pips range so far to scalp ....

if you cant make money off of that kinda action....stop trading and take up knitting...as you are in the wrong business or you need a better trading system ! :smart:

N

 

[NVP]

yen been south to -80 pips now since 6am BST ...

so keep selling it !!!

heres EJ .....its been back down to 130.70's (nice nice support level !!) since last post and as high as 131.10's ..... only game in town really at moment

ive traded pretty much mainly one pair all day.....a luxury i need to make money on when it presents itself !!

N

 

[NVP]

someone asked me would i play the GU bounce ?

well if i was a pure S/R man i would say it has a lot of interest .......although i dont like the falling highs ....

but i am also a strengthmeter man and based on the dynamics from 6am this morning the usd and the GBP are both bull currencies ....so why would i trade 2 currencies both Bullish ?

but thats just me gang ....im on the only currency still kicking butt...the bear yen

N

 

[NVP]

heres the UJ as well .......ive had some real nice moves since last posts

when you get a really really trending currency in the G8 attack it

you will suffer minimum losses as long as you are sensible in your second currency selection

after all....for all those yen pairs today ..the yen was already setting up the pairs for a 1 way ride !

look how weak the yellow yen has been on a 5min TF on a 20ma setting

N

 

[NVP]

someone asked me would i play the GU bounce ?

well if i was a pure S/R man i would say it has a lot of interest .......although i dont like the falling highs ....

but i am also a strengthmeter man and based on the dynamics from 6am this morning the usd and the GBP are both bull currencies ....so why would i trade 2 currencies both Bullish ?

but thats just me gang ....im on the only currency still kicking butt...the bear yen

N

gu has broke south of that area.....still not convincing me to buy it

 

[NVP]

gbp falling gang ....time to start selling it soon .......go Cable

 

[NVP]

cable been back to 3119 for resells to 3109 so far

quick or dead guys .....quick or dead

N

 

[NVP]

hey all...

usd was pretty flat this morning initially .....yen and AUD got short though nicely .....and the GBP and Swissie were decent buys at times

i was trading the EJ buys mainly....see chart....nice chase up from the 130.70's to 131.10

you could have had a little GU and EU buying but with usd flat you are only getting half a pairs movement re volatility.....simple math !

around 8.45 the whole g8 reversed .....if you had larger sphericals you chased it ...or like me you may have decided to just leave most of it and try for some retests ...

around that time i did start hunting the GU buys...... as usd was definitely coming south and still is now .....see the chart...ive been hunting from the pullback to the 3109 levels.....up to 3135's so only 20-25 pip range so far ..but plenty scalpable gang

ok the market is still pretty lean gang .....just +/1 20 pips for all the currencies since 6am BST...thats lowish volatility so far .....so i would like a liitle more fire in the belly when NY opens

i am out consulting this afternoon on a start-up Venture so will not be trading much

cheers
N

 

[NVP]

hamish you old reprobate ...is that you ???

 

[Itshamish]

Definitely is! Returning to the fold like a lost sheep having ventured into Futures and thence Market Makers 'Method - all very interesting BUT... Relative Strength is the only way! Very happy to see that you are as consistent as ever... when is your course starting (ha,ha! it would be remiss of me not to ask!)