Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

morning all ....ive been on and off trading for the last 12 hours in truth.......with May out in Strasbourg i figured the fun would start ....

overnight GBP index traded in a 50 pip range .......but nothing significant compared to yesterdays action

I dont care if the legal adjustments are enough ......I just need volatility today on sterling to allow me to make money trading GBP pairs ......

 

[NVP]

so far post 6am .....I see a volatile G8 and im trying to be objective ......although i really really feel we will see a strong sterling london session....

objectivity guys ............another really tough psychological challenge for any trader

ive been working cable up from 3200 but in truth not really on my strict trading rules ....slap wrist but it worked

keep buying gbp at moment

N

 

[NVP]

hey gang .....sorry re no posts but trading on a friends platforms in canaries and unable to post much as well

ok the GBP got slapped hard on the rumourmongering ahead of the vote

so like every other sensible trader following trend i sold it ......i was conservative and didnt start shorting cable until 3200s

it lowed at 3000s some 200 pip selloff ...........superb !!

anyway its rallying at moment .....3090 and nothing really offered to me to sell yet .....

so.......we finally got that cable selloff based on last weeks bear action ....took a while though !

 

[NVP]

given the high volatility levels of cable I am really just looking for fast setups and smash and grabbing pips

theres a clear range at moment from 3100-3070 so im playing the resells when offered ......

 

[NVP]

cable now pulling back .....from 3100 - 3140s......still trying to find a window to resell

 

[NVP]

gbp looking bull today .....usd and yen selling .......

been buying cable up from 3090s ....been to 3118 so far

 

[moondude]

can any one help me answer this question.....

If I have an account in dollars and I buy EURUSD and at the same time buy USDJPY with the exact amount of lots i.e 2 lots would I effectively be doing the equivalent of buying EURJOY at the same time?

same goes for AUDJPY and NZDJPY if I buy AUDJPY and Sell NZDJPY am Ieffectively taking out a buy on AUDNZD?

Obviously, when taking out these trades you represent a conflicting position on USD and JPY by doing so so it would be counter intuitive to actually take the positions above and to just trade the cross instinctively as opposed to through the exposure of two other currency pairs.

 

[NVP]

can any one help me answer this question.....

If I have an account in dollars and I buy EURUSD and at the same time buy USDJPY with the exact amount of lots i.e 2 lots would I effectively be doing the equivalent of buying EURJOY at the same time?

same goes for AUDJPY and NZDJPY if I buy AUDJPY and Sell NZDJPY am Ieffectively taking out a buy on AUDNZD?

Obviously, when taking out these trades you represent a conflicting position on USD and JPY by doing so so it would be counter intuitive to actually take the positions above and to just trade the cross instinctively as opposed to through the exposure of two other currency pairs.

hi there

If I have an account in dollars and I buy EURUSD and at the same time buy USDJPY with the exact amount of lots i.e 2 lots would I effectively be doing the equivalent of buying EURJOY at the same time?

yes.....there may be a little dilution from not quite the same amount of USD units in each seperate trade ...but 99% you may as well have just bought EJ.....and saved a spread / transaction costs

same goes for AUDJPY and NZDJPY if I buy AUDJPY and Sell NZDJPY am Ieffectively taking out a buy on AUDNZD?

yes again with same caveat on lot sizing ......

if you were confident that the duplicated Currency in question (USD and JPY) were going to be pretty Flat on taking these trades then there may be a case for taking such a dual posiiton and leveraging the flat nature of the duplicate currency to alleviate retrace volatility that may shake you out of a trend trade.......but i would never do that on JPY pairs as it is much more volatile than USD .....USD would be ok todo ....

but again just take the single trade and give yuorself a little more room on the stops ....stil cheaper that double spreads / transaction costs

hope this helps
N

 

[NVP]

gbp looking bull today .....usd and yen selling .......

been buying cable up from 3090s ....been to 3118 so far

still GBP and cable running the volatility show today ...nice pullbacks at times offering me comfortable rebuys around 3130s and taking me up to 3160 so far ........

cant be bothered to chase other half decent options like the Yen bear at moment.........

 

[NVP]

3180s now cable ....only pair in town for me all morning .....easy meat

 

[NVP]

cable has flattened....a little ucad selling at moment ...nothing heavy

 

[NVP]

morning all.....

well the brexit fiasco continues.....theres another brexit thread here on t2win where I and others are voicing their frustrations and opinions so i wont bore you here ...this is a trading thread

ok after a selloff the GBP is back and doing ok london opening so far....its flattened but ive been in GBP cable since 3260s and it got to 3290s last run up

just took another 78-85 fast scalp but its a little flat at moment

gbp pairs brexit volatility is dwarfing the market most days so im rarely drifting onto other pairs at moment .......

N

 

[NVP]

just scalped another easy trade 3277 - 3286 so far ...

 

[NVP]

gbp come way south since my last post ......sorry i am still on borrowed kit in canaries and not able topost as much as usual

i started reselling cable around 3274/5 ...been down to 3208 so far ......

no complaints
N

 

[NVP]

my last day trading in the canary islands ......my mate will finally get his room back !!

ok again gbp dominates the markets for volatility and opportunities ...you can trade other pairs but they are crawling compared to GBP pairs ....and i need action to make money intraday trading

gbp sold off early doors london ...cable fell to 3200 levels but i really felt we were going to see a bounce off support ....and we did so i got in from around 3220s to 3270 so far ............50 pip range/ move to make money .....

swissie is selling if you fancy other pairs to play

 

[NVP]

funny old day today .....

gbp up and down like a tarts knickers......

anyway I will keep trying to play a rebuy on GBP ....but with only Cad and swissie as primary sells its tricky

UCAD or UCHF buys more safe at moment

 

[NVP]

there was a lightning buy op on cable at around 3244/45 ......to 51 so far ....jees that was fast

 

[NVP]

funny old day today .....

gbp up and down like a tarts knickers......

anyway I will keep trying to play a rebuy on GBP ....but with only Cad and swissie as primary sells its tricky

UCAD or UCHF buys more safe at moment

superb rebuy offered on Ucad earlier soon after this post.....33324/3330 sat up and begged .....now been to 3370

 

[NVP]

cad looked a little oversold ...so ive been scalping the bull move so far ....not much ...ive been selling ucad from around the 3358/7 levels after that third refusal to go bull again ....

sold off to 3344 so far so hardly flying .....so be prepared to come in hard bull again on ucad

 

[NVP]

morning all.....

ok i am back in uk but the house is still being renovated so we are spending time with family and also the lodge later this week

i am on skeleton system with only 1 laptop so i cant post much ...sorry

nice easy morning....i was mainly on cable (theres a surprise !!)

gbp was good selloff from early london ......euro lead the buys

ive been in cable from 3270's down to 3220's so far ....

cads coming south as well but i'll watch that