Best Thread Correlation Trading - Basic Ideas and Strategies

[alan5616]

Trading days like this make it all worth while. EU in free fall since 06.15. On my 15 min chart, I use a series of MAs and there was never a close above any one of them all day.

A very strong day for the Tag team and a bad day for the € and £ although GBP has recovered somewhat since about 16.30

 

[NVP]

Trading days like this make it all worth while. EU in free fall since 06.15. On my 15 min chart, I use a series of MAs and there was never a close above any one of them all day.

A very strong day for the Tag team and a bad day for the € and £ although GBP has recovered somewhat since about 16.30

agreed......maeks it all look easy doesnt it

 

[NVP]

mornin......

jees what a party yesteday on tag buy.....

lets see if market carnage continues when europe opens...

remember do not guess anything just trade what you see :smart:

game on - heres a 5min and a 1hour hybid on current action below
N

 

[NVP]

oh no !!!! - price is doubling

never mind all the Standard FXCorrelator software is free here on the attachments shown ......nearly 400 downloads so far and no one has tried to shoot or insult me toooo much....yet !

NVP

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[NVP]

I agree below generally with the Black swan guys....

I want whatever the Aussie D is drinking.

Although is recent weeks the NZD has been the currency of choice (see my earlier posts yesterday)....probably a knock on from Aussie D relationship and it getting some slingshot buying as part of same commdoll tribe and was looking light compared to the AUD

good points though and well made......4.5 % base rate ! ......jees wish i'd stayed there years ago....

NVP

 

[NVP]

quick peeky poo at my 20ma scalper

at 9.41 gmt it was decision time (see attachment 1) as tag team where confirmed sells on 1min and 5 min
(both below zero)

and what was on offer on G6 ? ........to be honest apart from the NZD (light blue) that was below the zero on the 5min chart all the others were potential buys really....and the U/J move down was good so everybody won (see attach 2)

oh yeah and when tag falls buy U/J (attachment 3)......remember ? :smart:

doesnt work everytime ....but what do you want for free ?
NVP

 

[NVP]

another lovely scalp.......:smart:

USD was already above the zero line on the 5min chart but it needed validation from the usd going over the zero line on the 1 min ....and of course the Yen confirmation if you wanted to confirm the tag rise

up to you all how you use it....and plenty of options and additional confirmations you can add...and of course you may prefer alternative timeframes and of course alternative MA / Delta settings ....the choices are unlimited here.....

N

 

[GMP]

Anybody have any idea why Yen went mental after 2.30pm BST? I'm just home for a min and see it shot up.

 

[tigloo]

Hi everyone,

been really busy at work lately, so haven't had a lot of time to trade. Finished my EA. I have nothing to add to it anymore, it's a pretty generic, multi-currency scalper. The strategy is profitable but it still needs to be fine-tuned to every currency it could trade and, occasionally, to the market environments. It would take quite a bit to look for the most profitable settings and I have admittedly found this very boring.

It makes a lot of sense to trade the strategy manually, because it is much easier for a human to interpret the situation at hand than for an EA to apply dumbed-down rules. Maybe I should sell it and join the likes of Mr. Fielder.

However, since there is hardly any challenging work to be done anymore in terms of programming, I have put it aside for now to look at other options in correlation trading. I'm currently working at developing other indicators that use the correlation indicator's values as input rather than the typical price action from the chart. Maybe the TA on the indicator itself will show good trading opportunities. So far, mainly MetaTrader has been giving me headaches because its array-handling implementation is amateurish at best and causes all kinds of bugs. As soon as I'm able to work around them, I'll be back with hopefully other interesting indicators.

Neil, your write-up at Forex TSD is a very good summary of what is going on in this thread and helps people to interprete the charts and discussion here. How about adding a link to something like this to your signature so it can always be accessed quickly?

Till

 

[NVP]

Anybody have any idea why Yen went mental after 2.30pm BST? I'm just home for a min and see it shot up.

hi mate

been in meetings so it wasnt me.....

N

 

[NVP]

Hi everyone,

been really busy at work lately, so haven't had a lot of time to trade. Finished my EA. I have nothing to add to it anymore, it's a pretty generic, multi-currency scalper. The strategy is profitable but it still needs to be fine-tuned to every currency it could trade and, occasionally, to the market environments. It would take quite a bit to look for the most profitable settings and I have admittedly found this very boring.

It makes a lot of sense to trade the strategy manually, because it is much easier for a human to interpret the situation at hand than for an EA to apply dumbed-down rules. Maybe I should sell it and join the likes of Mr. Fielder.

However, since there is hardly any challenging work to be done anymore in terms of programming, I have put it aside for now to look at other options in correlation trading. I'm currently working at developing other indicators that use the correlation indicator's values as input rather than the typical price action from the chart. Maybe the TA on the indicator itself will show good trading opportunities. So far, mainly MetaTrader has been giving me headaches because its array-handling implementation is amateurish at best and causes all kinds of bugs. As soon as I'm able to work around them, I'll be back with hopefully other interesting indicators.

Neil, your write-up at Forex TSD is a very good summary of what is going on in this thread and helps people to interprete the charts and discussion here. How about adding a link to something like this to your signature so it can always be accessed quickly?

Till

Hi Till

I do not have the level of programming skills you (or others that have challenged Metatraders stabiliity/prowness) possess - so to me my simple indicators and hybrids seem to work ok....they are not EA's of course so I can see why you hit problems and snags :smart:

Agreed - the strength ratings are the natural progression from price action/shape of the simple corrleators, and we have discussed these in the past on the thread....the values are there for each currency already - so just a matter of teasing them out (by using multiples to beef them up) and then some fancy programming to get them more visable

then you step to the next level and start the programming regarding
alerts etc etc when a currency is above y value and another currency is above z value blah blah blah ......way way outta my programming league (but naturally I know what i would want the indicators to do if I could programme to that level :smart: )

good luck and let me know if any help needed.....although youve been warned about my sledgehammer/nut approach many times before

Regarding the commercial aspects of these systems - you know that I am in the process of creating a small commercial forum/site to access and teach my corrie hybrids that I preview sometimes here - nothing fancy but to me it will be a robust set of interchangable indicators that are as good as anything else out there that costs bucks to buy (and will be a damn site more reasonably priced as well compared to most)

in all practicality I think I will probably lose money on it overall, given the level of support I will provide re training and ongoing management - but I just need to prove to myself that I can do it, and have achieved something in an area that is usually the domain of people far more talented and intelligent than i am....whatever the hell that means

to me if you ever want to publish I would be proud to have you in that forum marketing EA's (c'mon we all realise here your stuff's gonna be good !) if you ever get to that point - let me know !

Ref the Forex-TSD (and the Forex Factory actually as well)...I am dipping my toe in the water but these sites are much more academically driven in my opinion re programming skills and indicators so I am nervous of the responses - but we will see

Once I work out all this trackback malarky I will set up the links as suggested :idea:

Regards
Neil

 

[alan5616]

Anyone want to buy some Euros? They fell off the back of a Greek lorry as it hit a brick wall. Good discount available for multiple purchases

 

[cheetahcal]

another lovely scalp.......:smart:

USD was already above the zero line on the 5min chart but it needed validation from the usd going over the zero line on the 1 min ....and of course the Yen confirmation if you wanted to confirm the tag rise

up to you all how you use it....and plenty of options and additional confirmations you can add...and of course you may prefer alternative timeframes and of course alternative MA / Delta settings ....the choices are unlimited here.....

N

Hi Neil,
I need your help. I can't get my corrie to look like yours. I use the 20 average an 1 delta but the difference from yours is significant. Are these the right settings?

 

[NVP]

who says the old school plays are dead :smart:

buy tag when risk rises (markets fall)

N

 

[NVP]

Hi Neil,
I need your help. I can't get my corrie to look like yours. I use the 20 average an 1 delta but the difference from yours is significant. Are these the right settings?

hey mate post what you have showing .......20ma setting 1 is what i use

it will be a broker / feed issue probably........if a pair is not available on your feed it scuppers things

also load up the 7 usd pair charts (1min TF) as this frees up the feeds sometimes

oh yeah - and get some sleep !!

N

 

[NVP]

hey mate post what you have showing .......20ma setting 1 is what i use

it will be a broker / feed issue probably........if a pair is not available on your feed it scuppers things

also load up the 7 usd pair charts (1min TF) as this frees up the feeds sometimes

oh yeah - and get some sleep !!

N

heres mine at 5.54 GT

 

[NVP]

theres no fools like a gold fool......

theres no fools like a gold fool......

I bet your all sick about people telling you to buy gold eh ?

a few of my hybrids use gold (mainly to support usd trades) but or course many people consider gold is actualy the G9 in the currency cosmos

it should actuallly be the G1 numero uno currency - as it was around long before the usd and the Euro

heres two 4h corrie charts - the one on the left is a nice lazy Fxcorelator on a 170/3 setting (a smoothed 200ma) .....and on the right - (yes another damn) hybrid that is a G9 version, totaly incorporating Gold (the violet dude) into the familly like any of the other 8 currencies.....

so what do you see everyone ?......any surprises ?

trade Gold as a normal play - but remember that in its standard chart/trading format (Gold/$) you will only make money if USD and the Gold line Diverge in the direction you want ......which used to be the pretty standard formula for USD / Gold price correlation (Gold up / usd down and vice versa)....but as you can see in the H4 charts below the USD has been doing pretty well alongside the Gold price so this has not been the big buy play everyone thought it would be by now (bless them - all it needs is some more in depth correlation ideas /thoughts - and my simple Gold hybid)

So where was the big money play on Gold then NVP ? ....c'mn all check the charts below ......gold has been rising steadly so just make sure your purchase currency for it was a genuine dog/faller.....hmm Euro works for me

Gold is frequently a very very profitable trade play/alternative option in any timeframe vs the standard G8 trades we call here......

yep its in the commercial pack coming :whistling and I will try to call a few here if see some interesting moves.......mainly the Gold priced in $ ideas as i suspect few of us have alternative liquid options re trading Gold prices in other currencies (which actally is where the real profitable trades are) in the lower TF's :smart:

NVP

 

[NVP]

overnights

dj30 futures has started getting jittery again (nikkei also fell in the night) so perhaps a little tag rising could be back when europe opens....just let it settle a little


commdolls looking a liltle under pressure overnight and perhaps the NZD could finally be dragged downwards for a while soon for some potential convergence plays.....but still holding eh !

big convergence of gbp back down to Euro/Chf levels overnight - so could get contagious for eurozone

be careful out there
N

 

[GMP]

Re: theres no fools like a gold fool......

theres no fools like a gold fool......


So where was the big money play on Gold then NVP ? ....c'mn all check the charts below ......gold has been rising steadly so just make sure your purchase currency for it was a genuine dog/faller.....hmm Euro works for me


NVP

Hi Neil
I read somewhere recently that the Euro's been showing a better inverse relationship to Gold than the US dollar in the recent couple of years, so this would tend to confirm that. I'd have thought if the current € problems continue though, the old status quo might re-establish itself (no, not the band, anything but that!)

 

[GMP]

Anyone want to buy some Euros? They fell off the back of a Greek lorry as it hit a brick wall. Good discount available for multiple purchases

Hello
I represent the ECB and we are very interested in your kind offer. We are willing to offer Greek Treasury Bonds in payment. I assure you there are absolutely no problems in Greece whatsoever - the people are well-known for welcoming austere economic restrictions imposed upon them because rich people messed up the world's financial infrastructure.
- Socrates