Best Thread Correlation Trading - Basic Ideas and Strategies

[jrplimited]

These forex markets have a nasty habit of drawing us in and doing the unpredictable. How many times does our SL get taken out by a few pips, only to see it turn around and move in the direction we wanted in the first place? (Rhetorical question)

For me, the hardest part is getting stopped out a couple of times and then missing the next set up. Of course, it's, always, the one you don't take that goes on to make masses of pips without you on board. Frustrating business!!

Hi Alan,

Yeah its a big problem thats being emphasised currently with this intra day volatility, some of those big bars are just killers for sure but I'm keeping my head down and adhering to strict SL protocols as to try and widen these will just result in a bigger teddy being thrown out of pram!

Good luck tomorrow and regards,
Simon.

 

[NVP]

Try reversing the roles sometime!!!

hmmmmmmm

N

 

[NVP]

back to basic guys....

simple 1000/1 corrie alongside a us30 (just reset your corrie to 1000 ma)

us30 (dow30) up = tag team down (and vice versa)

if the dow comes though those ma's the tag team will be tested on those support lines.....should be interesting :smart:

comdolls look most willing to rise...but trade what you see when it happens

N

 

[NVP]

Hi all

I tried to load this last week.................a little plug for my scalper looking at the NZDUSD pair action

N

 

[NVP]

is a buy tag scalp coming ?

N

 

[NVP]

can anyone see my stupid charting mistake above......

clue - always have your 1 min chart set on autoscrolling !

yep its looking at an earlier time !


doh !!!!!!!!!!!!!
N

 

[NVP]

these are really basic and crap but they will get better .....ignore those charts on the far right ....they are from my private collection of individual currency charts

N

 

[NVP]

we are now on 60,000+ views................thanks everyone !

N

 

[NVP]

nope ....still cr*p NVP !!!

notice how I skillfully drag all my todo lists off of the sceen.....class - pure class !


and watching me spell is like pulling teeth.......hahahahahahaha

N

 

[jrplimited]

Hi N and anyone else out there,

I forgot that this morning was supposed to be the morning that part of my trading account had to be sacrifised to everyone else....

GU; First trade long entered at 45998 (eek!) on open 08:05 bar, price stalled then moved up and promptly slithered back down the hill taking out SL during 08:55 bar for 21 point loss. Second trade long entered at 45887 on open 09:25 bar, price went straight down again and took out SL during 09:30 bar for 21 point loss.

EU; First trade short entered at 20238 on open 08:25 bar, price turned around sharply and took out SL on wick of 08:30 bar for 18 point loss. Second trade sell stop at 20188 filled by tail of 08:50 bar, price moved down then realised I was attempting to short it and reversed upwards to take out SL during 09:35 bar for 18 point loss.

EG; First trade sell stop at 82522 filled during 08:10 bar, price moved nicely down then retraced back to entry level, moved back down again. stalled for five bars then popped back up to entry level to close trade out for nada point. Second trade buy stop at 82616 filled during 09:35 bar, price moved up but couldnt hold new 09:40 local high and came screaming down to take out SL during 09:55 bar for 15 point loss. Third trade buy stop at 82616 filled during 10:10 bar, price moved up and broke prior local high but didnt have any strength to hold it and instead retreated back down below entry level, paused for three bars then took out SL with a bang during 11:35 bar for 15 point loss.

A big car crash there with all three of the pairs traded taking a severe beating, this really was just one of those days when nothing went right but tomorrow is, of course, just around the corner - trade well and regards,
Simon.

 

[alan5616]

Hi Simon,

Sorry to see that it was a tough morning for you. I decided not to get involved, in view of the pending B of E and ECB rate announcements and accompanying statements. The latter seems to have more affect these days.

 

[NVP]

Hi N and anyone else out there,

GU; First trade long entered at 45998 (eek!) on open 08:05 bar, taking out SL during 08:55 bar for 21 point loss. Second trade long entered at 45887 on open 09:25 bar, took out SL during 09:30 bar for 21 point loss.


EU; First trade short entered at 20238 on open 08:25 bar, price took out SL on wick of 08:30 bar for 18 point loss. Second trade sell stop at 20188 filled by tail of 08:50 bar, out on SL during 09:35 bar for 18 point loss.

EG; First trade sell stop at 82522 filled during 08:10 bar, to close trade out for nada point. Second trade buy stop at 82616 filled during 09:35 bar, price to take out SL during 09:55 bar for 15 point loss. Third trade buy stop at 82616 filled during 10:10 bar, took out SL with a bang during 11:35 bar for 15 point loss.

Simon.

holy pants batman...........my chart on 1min below....looks like most of your trades were looking promising but 1 or other currency decided to turn at the exact moment you went in.......trading is a bloody farce sometimes.....

domani domani....
N

 

[jrplimited]

holy pants batman...........my chart on 1min below

Hi N,
Wow! That looks spaghetti junction big time... Even on M1 time frame this morning GU was a monster to look at with wildly swinging bars. I think Alan got it 100% right when he mentions above about sitting today out, although UK and Euro central bank policy announcements dont really factor into my style of bursting into the saloon and shooting everything that moves!
Simon.

 

[NVP]

corrie 6

this is where Rocky trades without stops and mr T returns wearing a dress....

or perhaps its covering the mornings actions on E G U :smart:

N

 

[NVP]

corrie 5 here....earlier scalping action......well lack of scalping action as the G/U didnt perform for me !!!

N

http://www.youtube.com/watch?v=D7Cy.../profile?user=FXCORRELATOR#p/u/1/D7CyfwEz7IA#!

 

[NVP]

Hi N,
Wow! That looks spaghetti junction big time... Even on M1 time frame this morning GU was a monster to look at with wildly swinging bars. I think Alan got it 100% right when he mentions above about sitting today out, although UK and Euro central bank policy announcements dont really factor into my style of bursting into the saloon and shooting everything that moves!
Simon.

Hi Mate

on the E G U - if you get the GBP directionally right it will usually destroy the lower volatility USD and Euro moves for big pips.....you can even get out of jail if they move together as GBP will normally stay ahead of the other 2

such is life :smart:
N

 

[alan5616]

Just tried my recently developed "never have a losing day" strategy and taken a few pips out of the EU.

It shows great promise, so far, but, need a bit more time to convince myself that this, combined with the new Porsche, could be very good. Exit is not a problem. However, identifying unbeatable set up entries, to virtually eliminate drawdowns, is proving more challenging. We're getting there:idea:

 

[NVP]

Just tried my recently developed "never have a losing day" strategy and taken a few pips out of the EU.

It shows great promise, so far, but, need a bit more time to convince myself that this, combined with the new Porsche, could be very good. Exit is not a problem. However, identifying unbeatable set up entries, to virtually eliminate drawdowns, is proving more challenging. We're getting there:idea:

just like british rail ?

N

 

[NVP]

Hey all

ive managed to load 9 videos onto youtube today inbetween work an other manic matters

the crazy thing is I dont think ive shown a profitable scalp yet ...hahahahaha

lots of nearly's though and a lot of step downs......will be interesting to see the responses there as normally this crew are used to picture perfect trades in hindsight with the polished marketeers smiling in the backgound with a website and bank account to send the donations to......

whatever ! - more will be loaded as I trundle along but I wont post here much unless valid - or if someone asks me to show something in video format here :smart:

they're all found on the signature below

N

 

[NVP]

got one when I was messing about yesterday evening......

N

http://www.youtube.com/user/FXCORRELATOR#p/u/0/cg9lQ3d3TLU