Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

in !!!!.....3011 the stop

 

[NVP]

ooofff..........usd been dumped so bought EU

 

[NVP]

took 6 pips safely off EU ...no complaints .......will try to run it up now

 

[NVP]

hey all

ok the usd has been net bear this morning from 6am BST ....its back to neutral at moment...ususal tricks

ive been trying to mainly scalp buy GBP and Euro into the bearish USD so far ...although GBP dumped earlier so it came off my xmas list ...im now selling cable as usd has pulled north as stated in last 30 mins

N

 

[NVP]

i shouldve really made more off of the cable sells recently ...i was slow into it and missed a big % of the first 2880-2850 fall.....got the second phase though ...no issues !!!!

 

[NVP]

heres last few hours oif NY open session

usd been strong with gbp and yen the sells

sooo...cable has been a nice sell

heres the action

N

 

[NVP]

morning all ....its Friday into BH in UK

USd Flat / Bear so far ....

GBP been bull more recently

Euro swung Bull / Bear so far

Yen pretty flat / bullish

scalp wise ive been chasing Euro / GBP buys into usd initially .......with usd so flat now im waiting for more bias ......yen is flat so again no bias to work off of ....

heres cable ....thin range .......2820-2840........tricky

EU was a briefer buy scenario and w was not confident when the 1560 S level was breached .....not been to convinced to chase the sells since ...as yet anyway

N

 

[NVP]

2820 the cable pullback ....cant persuade it to selloff at moment

 

[NVP]

Euro is the only currency i trade in the bull half of table since 6am open ...so going with buys on it

lets see if EU holds above 1570

 

[NVP]

2820 the cable pullback ....cant persuade it to selloff at moment

it just kept going north didnt it .....ive been scaping it up from the 2830's.....been to 2859 so far

GBP is the bull play for me now

 

[NVP]

Euro is the only currency i trade in the bull half of table since 6am open ...so going with buys on it

lets see if EU holds above 1570

happy with EU buys since this post ...it certainly got above and held 1570 ...to 1596 now ...you can see the obvious re-entry on the 5 min TF here as 1570 S level holds

N

 

[NVP]

2 and a Half hours of solid USD selling now ....interesting

 

[NVP]

http://www.trade2win.com/boards/forex/226646-knowledge-success-4.html#post3061590

the main reason most traders eventually quit (even ones with great potential and promise)...is that they just cannot handle the uncertainty of the game

you have to subconsciously and Emotionally be able to accept losses and uncertainty and losing trades ......

remember if you have a decent robust system and you are executing it consistently and accurately ...then EVERY EVERY trade that fails was based on the same crieria of those that were profitable ....

this is very very confusing and frustrating for our human minds ......it literally does not compute !!!

hence most people eventually crack and walk away .....it just does not appeal to their logical and rational mindsets .....we humans must try to achieve as much control as possible in our life.....despite the clear lack of it ....thats why so many people have mental health issues and depression.....

I have trained & Mentored people from very controlled and logical background (pilots , doctors , scientists , lawyers , accountants) ...I can literally watch them meltdown as these things happen ....they just cant accept it based on some 30+ years of training and experience where they have generally been able to avoid such behaviour and outcomes....

welcome to trading ....

 

[banawa]

http://www.trade2win.com/boards/forex/226646-knowledge-success-4.html#post3061590

the main reason most traders eventually quit (even ones with great potential and promise)...is that they just cannot handle the uncertainty of the game

you have to subconsciously and Emotionally be able to accept losses and uncertainty and losing trades ......

remember if you have a decent robust system and you are executing it consistently and accurately ...then EVERY EVERY trade that fails was based on the same crieria of those that were profitable ....

this is very very confusing and frustrating for our human minds ......it literally does not compute !!!

hence most people eventually crack and walk away .....it just does not appeal to their logical and rational mindsets .....we humans must try to achieve as much control as possible in our life.....despite the clear lack of it ....thats why so many people have mental health issues and depression.....

I have trained & Mentored people from very controlled and logical background (pilots , doctors , scientists , lawyers , accountants) ...I can literally watch them meltdown as these things happen ....they just cant accept it based on some 30+ years of training and experience where they have generally been able to avoid such behaviour and outcomes....

welcome to trading ....

sure my friend never ever give up he's a long road but the reward is there

 

[NVP]

 

[NVP]

hey all

ok the market is a little twitchy.....usd was bull but has fallen fast from 7.40 BST

all dynamics have changed .... euro has been gradually strengthening from early losses and i am now on EU buys ....trying to find a decent pair combo to follow through on

GBP is bearish still

yen and usd are correlating nicely though so thats good ..both bearish now

so twitchy so far ....smallish winners...nothing big yet

 

[NVP]

ok the usd has held bear......nice

thats been a 30+ swing south on USD pipwise from 7.40 ish BST ...plenty for scalping

ive been on Euro and GBP ....swissie has been the best buy but im not a huge fan of UCHF for volatility normally

anyway no complaints ....EU rebuys above 1670 levels up to 1700 so far and GU buying above 2870's to
2910 so far

great usd action for london morning....

 

[NVP]

hey all

as usual - many thanks for all the recent e-mails received (a couple of recent examples below) ......I'm glad it all helps and i really appreciate the many kind testimonials about the FXCorrelator !

I apologise if these people and others are still waiting for responses to questions and other help requested

I promise i will get around to responding as soon as i can but it takes time .....(jees you guys have some good questions !!)

cheers
N

 

[NVP]

hey all ....

USd and Yen been pretty strong post 6am opens .....im mainly milking EU and indeed EJ sells when offered ........

AUD is selling well if you want it

N

 

[NVP]

{quote} Hey mate, Be careful when selling EUR since there is a strong support at 1.1660. iIn my opinion today is best to stick with GBP strength. I mainly watch GBPCAD since we got fresh cross on GBP/CAD and the other technical tools confirming further strength. Petar {image} {image}

hey petar ...understood .....im only scalping ....so no worries

interestingly if i were assessing absolute currency strength / weakness the Euro possibly has another 40 pips possible selloff before it sees another major S level ..and I can possibly see another 10-15 pips of usd selling before a R level looms .....so its offering up the 2nd level 1590's as the one to beware of ...

its interesting to compare absolute currency Support and resistance levels with those identified in their relative pairs

fascinating stuff

N