Best Thread Correlation Trading - Basic Ideas and Strategies

[Dentalfloss]

suppp held

 

[Dentalfloss]

Out

 

[NVP]

ok dokey.....I see lots of viewers ?...thanks !!!

cable has offered some scalps and i'm on the EJ buys as well ....nice volatility in market across the board ...

 

[NVP]

relayed from a recent post I wrote .....


"the most difficult part of Trading is realising that we as Humans we are already broken and totally unsuitable for the art of trading ......

accept that ......try to fix it ....and you are 90% there ...the rest is really just detail "

N

 

[Dentalfloss]

supp held

 

[NVP]

ok ive finished for the morning .........

EJ trading faded so not much there ...my main haul came from the eternal CABLE GBPUSD

even on a 5min simple TF chart one can see a rhythm and incorporate a simple system ???

1) go with the main BIAS / Direction / TREND from 6am
2) Hunt pullbacks of 2+ Bear Bars
3) enter on a significant retrace into trend and set up a decent stop position below support line

BUT FIRST USE A STRENGTHMETER TO ISOLATE THE BEST PAIRS TO TRADE

Now i repeat again...that system above is not how I scalp ...... I have some pretty fine tuned sniper systems operating at ultra low pip/time levels that make it easier for me inside for triggers.....but all in all its just detail ......the same principles apply

Find direction
identify / Confirm Pullback signal
identify resumption of trend signal
pull trigger / execute Stops
execute trade and exit strategy
REPEAT


have a great trading day
N

 

[Dentalfloss]

 

[Dentalfloss]

Our 1.3050 area broke...evebntually

 

[Dentalfloss]

Updated
trends marked

 

[Dentalfloss]

Might need to pullback for NFP...??

 

[NVP]

Slow this morning ...real slow ......back later

The secret to successful trading is .......(drumroll) ......

ACTIVE PATIENCE ....sitting on the sidelines alert and ready to trade ....but not trading until the conditions are right ......

almost impossible for me to do as a scalper ......(theres always at least 1 pair worth scalping in the 28 G8 pairs).....but when needed i can

 

[NVP]

interesting dynamics this morning .....only AUD and NZD look Bear.....

 

[Dentalfloss]

Updated

 

[NVP]

sorry i got tied up today as market was slow early london.....it warmed up a little more after 10.30 but ive been in an out

talk tomorrow
N

 

[Dentalfloss]

King Dollar

 

[Dentalfloss]

 

[NVP]

ok usd and yen strong today .....so anything goes selling to these ....im mainly cable (no surprises)but others also following

N

 

[NVP]

King Dollar
View attachment 274243

View attachment 274244

bloody right !!!!!!!!!!1

 

[NVP]

heres the week ............watch for compression as traders close out winning positions on week

probably ahead of NFPs

 

[NVP]

ok these charts are the key to how i trade ......see how GBP got bull after my last post ...its positive for session after 6am GMT.....and USD is bull as well

SO WHY WOULD I STILL TRADE 2 x BULL CURRENCIES AS A PAIR TRADE ?????????

SO I STOPPED TRADING GBPUSD and went to other better pairs on the Bull usd and Yen pairs (EJ , EU , AU etc)

Dont be dumb .....use strengthmeters to watch the WHOLE market

here endeth the forex sermon......go forth and trade profitably gang !

N