Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

Facts :-

1) at least 95% of all traders lose over time

2) There are really only a handful of core, universal indicators, systems and patterns that most traders use in the markets (albeit different settings and combinations !)

so what does this mean ?

a) are the small % of winners ignoring the core rules that the majority use ?
b) are the small % of winners simply using the core rules better / differently ?
c) are the small minority of winners doing the other things needed in Trading better ?

Answers

a) nope....
b) kinda.....
c) ooh yeah ! ....

heres the bottom line gang .......basically you have to customise and create your edge to work for you ....be unique.....I also recommend you challenge everything about your system all the time to ensure you are constantly improving it .....

I also strongly recommend you ensure it is not 100% formula and blindly operating based on dumb rules and indicator settings

what do i mean by this ?.........

get some discretionary trading rules in the mix !!

so by this i mean watch the market and understand whats happening for that session ...and especially news events and the reaction of the markets to them ....these cannot be programmed or understood by a dumb-ass moving average or a fibonacci retracement...you have to use your brain and experience guys to read the market ....

and .....as regards the answer to c) ?....... gang - you have to also get your mindset and headgame in gear ! .....thats what also makes a trader successful .........a major part of the jigsaw


Good Trading as always...
Neil


These few elements have generated many many derivatives that "claim" to be different, but are fundamentally not.....believe me....

 

[NVP]

thats enough for today .........GBPs massive spike has really put cat among pidgeons for us session

the GBP index has only come back perhaps about a third of its spike gain so very promising for the week .......lets see if GBP can finally get a winning week for once as king of the G8

you have to go back to April for it to have delivered a #1 spot for the week !

 

[NVP]

Yvan is a great guy and is very insightful on the mindset side of trading...

http://tradingcomposure.com/what-yo...-you-lose-money-and-what-you-can-do-about-it/

 

[NVP]

hey all

cracking morning ............Yen sold off heavily in asian session and has kept coming south from early london opens

usd has finally got dragged south as well london .....

Euro and GBP are bull .....

no brainer action so far .....scalping cable and EU and EJ buys for me !

 

[NVP]

1590s was the most early / aggressive I would have been this morning going into EU...all gravy rebuying above this so far to 1630s so far

3040s was the most early / aggressive I would have been this morning going into GU...all gravy rebuying above this so far to 3060s so far

129.30s was the most early / aggressive I would have been this morning going into EU...all gravy rebuying above this so far to 129.60s so far

you could be selling swissie as well .....

 

[NVP]

interesting ...........swissie didnt flinch on GBP news.....watch it ...its stronger now

 

[NVP]

nice action on the cable........

went back in on the spike sell ..i like GBP today as a buy

bought up from 3010 to 3020 so far ....will keep going at it

 

[NVP]

3037.........and rising

 

[NVP]

pretty messy now ...........nothing really shaping up from the earlier GBP news and action

Yen seems to be emerging slowly as alpha bull.........AUD and CAD shaping as alpha sells for london session now....

im working ucad buys and EJ sells

 

[NVP]

yen has come back some 50-60% now from its asian selloffs ..........a lot of people looking for resells into NY opens

EJ charts screaming for a rebuy session soon........

thats going against my earlier scalp direction but i must consider that party will end...

N

 

[NVP]

interesting afternoon so far .....GBP index has now swung some 70 pips since its earlier london session highs ....talk about a rollercoaster !

to be safe i only started selling cable around the 1.30 levels .....been to 2970's and im still hunting that range for resells

AUDUSD is ok as well to sell .......but hardly a premier league pair for me to trade NY session

this pair is attracting a lot of attention as oversold on higher TFs......but until i see some proof of this i am happy to keep reselling it off decent pullbacks up to 7100 levels

 

[NVP]

NY opens has sent usd and yen bearish.....GBP has rallied and CAD is flying high

cable needs to get clear of the many potential resistance areas now ...

UCAD is an easier game and ive been selling for a while now ....

 

[NVP]

nice correlation today so far .........good patterns coming out of the asian give me more confidence to scalp .....

no news expected till PM so clear run ..........

mainly scalping cable buys now up from 3010 for ballsy traders and 3015 for pussies...to 3040 so far

 

[NVP]

hey all...ive been in and out today scalping when i got time .....

USD has been mainly bearish today into NY session as well

mixed bag of currencies to buy into USD at times ....this is where a strengthmeter approach helps as i hunt for strongest currencies all the time

yen, euro and also Cad have been nice buys at times ....GBP not in game as bearish mainly

UJ is a funny pair for me .....only tradable when no other options

some great sells below 111.40 levels earlier ......to 111.20s so far

N

 

[NVP]

slow morning so far .....usd pretty flat ....so hard to generate scalp pips in usd pairs

Ucad sells interesting but hardly my frontline pair for trading london opens...Jees

EU been interesting selling off down to 1610s.....

more later ........im only scraping up handfuls of small pips so far .....need more !!!

 

[NVP]

in selling EU now under that 1624/25 R level....

ZZZZZZZZZzz

 

[NVP]

ucad resold down to 3003 from 3008s....

 

[NVP]

hey all .....

slooow morning so far ...

yen and usd have swung Bearish .....nothing heavy but enough

Euro is my prime Buy .......AUD is bull but is ususally to slow by now

sooo

im scalping EJ and EU until further notice so far ....

been scalping EJ up from 130.80s and EU up from 1690s

but hard work

carney at 11am gmt guys .....im hoping to see GBP volatile later

N

 

[NVP]

USD rallied into NY opens and was a steady gainer yesterday .......Yen came for the ride as well
(swissie also on their tails .....the return of the holy trinity ?)

easy options to sell euro and GBP ......nice session

see my fixed start FXcorrelator below ....to easy to see the action

N

 

[NVP]

heres the week

if you got into shorting (Yellow) Yen monday then you had a real nice week ! ....200 pip fall for that currency ....

Red GBP , Blue Euro and the brown Cad all scored gains ....

and for the first time since April .....the GBP WON the best gainer in the week contest !