Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

that 1 hr breach happened yesteday.....

 

[NVP]

as above.....

 

[NVP]

gonna be quieter today from me all.....

(dont all cheer now ......:clap

wifey has the Laptop and cant access my the charts

also i'm in Boston next week so wont have time to post much either.....

hence the mega video release and overload.......

keep posting all and keep asking questions here....we always get around to answering them :smart:

later...
N

 

[Adamus]

Good vid, Neil. V. interesting. We should call you Captain Corrie and give you a mandolin. :jester:

How did you decide to put the entry order at that level in the video?

 

[NVP]

Good vid, Neil. V. interesting. We should call you Captain Corrie and give you a mandolin. :jester:

How did you decide to put the entry order at that level in the video?

Hi Adamus

which one ? - I cant remember all my ramblings on the (to many!) videos

basically you should only go on the corrie closing a bar (line) with the currencies involved sitting above/below the zero....(ie not when it keeps pushing through then pulling back in the bar period)

this will be painfull on the early trend trades (when the 5min is just crossing the Zero) as the 1 mins will be already over the zero and waiting fo the 5 min to close in same position

later trend trades are easier .....as the 5 mins will be comfortably established in position - so you just have to worry about the faster 1 minute signals !

its not perfect and clearly is easier on higher timeframes !

N

 

[NVP]

Captain Corrie ????????

 

[jrplimited]

Hi N and anyone else,

Well, its Friday and for once I'm not jumping around at the thought of glugging silly amounts of red nectar - actually I am as this week has been horrendous in terms of trying to catch some decent trades, but dont tell that to Betty Ford staff!

GU; First trade long entered at 47431 on open 08:15 bar, price rose briefly up then changed into reverse gear and pushed down taking out SL during 08:25 bar for 21 point loss. Second trade sell stop at 47124 filled during 08:40 bar, price moved down quite nicely then 09:05 bar popped up to just below initial entry, recovered its downward momemtum again after a few trouser changing small down bars in what seemed a very hesitant period, printed 10:00 new local low, bounced weirdly off this without any follow through then 11:15 bar broke back down through prior local low without any real energy and trade exited on close 11:55 bar for 69 point profit.

EU; First trade buy stop at 21222 filled during 08:05 bar, price went up to new 08:15 local high then ran out of steam and went down again taking out SL during 08:45 bar for 18 point loss. Second trade sell stop at 21062 filled by tail of 08:50 bar, price rose up slightly then came back down again, did a retrace to entry level, fell again but couldnt match prior local low and rose back up to entry level duirng 09:45 bar where trade exited for nothing. Third trade buy stop at 21238 filled during 10:20 bar, price dropped then recovered to a few points above entry level and dropped again to two slim points above SL, recovered once more above entry level, dropped slightly, recovered yet again then stalled, trade exited on close 11:55 bar for a ridiculous 2 point profit.

EG; First trade buy stop at 82342 filled by wick of weak (you try writing that!) 08:10 up bar, price retraced then slowly recovered, did another retrace with higher low, recovered itself again and staggered northwards to new 10:20 local high print, went into a twelve bar consolidation phase, broke free of this and moved up to new 11:45 local high, trade exited on close 11:55 bar for 46 point profit.

Very strange morning session and leaving the oopsy EU trades to one side, GU (after initial classic bull trap) and EG both behaved themselves fairly nicely for a change - trade well and regards,
Simon.

 

[Adamus]

Neil, I meant the most recent vid you just put up on youtube. I can see the plan of action with the correlator, but I was asking how you positioned your stop - was it a bar ATR above the market?

 

[NVP]

Neil, I meant the most recent vid you just put up on youtube. I can see the plan of action with the correlator, but I was asking how you positioned your stop - was it a bar ATR above the market?

Hi adamus...

1) clearly I cannot trade and create the video so it was all hypothetical here....

2) In truth i'm a scalper when i do...so my targets are simple pippage gains based on experience and what the corrie is doing regarding the signal once i have entered
if you get above 5-6 pips on the 1 min charts and the thrusts are fading then take it ....the next bus will arrive shortly

if I were trading slightly higher timeframes and placing S/L's ......well its horses for courses really ...to be honest I make it up as i go along by using standard pair chart price action to guide me (alongside the corrie 2020 scalper signals) and also try to get b/e asap......to me trading is about minimal losses and not maximum gains per trade

sorry - pathetic answer but I am to much a seat of the pants (and rusty) trader to be an authority on disciplined trading and S/L's.....

GMP was talking S/L's yesterday I think .....GMP ? :smart:

N

 

[NVP]

Hi N and anyone else,

GU; First trade long entered at 47431 on open 08:15 bar, taking out SL during 08:25 bar for 21 point loss. Second trade sell stop at 47124 filled during 08:40 bar, trade exited on close 11:55 bar for 69 point profit.

EU; First trade buy stop at 21222 filled during 08:05 bar, taking out SL during 08:45 bar for 18 point loss. Second trade sell stop at 21062 filled by tail of 08:50 bar,duirng 09:45 bar where trade exited for nothing. Third trade buy stop at 21238 filled during 10:20 bar, trade exited on close 11:55 bar for a ridiculous 2 point profit.

EG; First trade buy stop at 82342 filled by wick of weak (you try writing that!) 08:10 up bar, trade exited on close 11:55 bar for 46 point profit.

Very strange morning session and leaving the oopsy EU trades to one side, GU (after initial classic bull trap) and EG both behaved themselves fairly nicely for a change - trade well and regards,
Simon.

hey mate - I have no charts to offer but a better end to the week

off now to practice on my mandolin and with the boys

how am I doing ?
N
http://www.youtube.com/watch?v=qPRO...C98D06B77&playnext_from=PL&playnext=1&index=7

 

[Adamus]

I'm not doing very well today - havent had any coffee yet. I didn't mean your stop loss - I meant the blue line you placed on the bar chart in that video - I thought it was a stop order to get you into the trade - no? OK I see you weren't actually trading, you say - so how did you decide how far up to put your blue line / virtual entry point?

 

[NVP]

I'm not doing very well today - havent had any coffee yet. I didn't mean your stop loss - I meant the blue line you placed on the bar chart in that video - I thought it was a stop order to get you into the trade - no? OK I see you weren't actually trading, you say - so how did you decide how far up to put your blue line / virtual entry point?

Hi adamus

Corrie11 is a 1000 ma /1 delta setting corrie on the right hand side so reset the scalper to see the same

the 1000 setting means the lines move up and down virtually without any MA distortion so up is really up and down is really down ........

remember on lower ma settings like the 20/1 scalper when a line converges towards zero it could actually be neutral in relative pricing but the low Ma setting will mean that the ma will be catching up rapidly with the real price and therefore dragging the line back towards the zero.....so the Corrie on low settings is actually a momentum indicator like a macd :smart:

when you are using the 1000/1 setting - a line drawn based on key previous S/R can be used as a key price action point/test - just as in standard pairs charts - therefore that breach (confirmed by say some similar action on the 15m TF chart) really did signify the USD was going to fall further and not bounce back......the US30 helped as it was rocketing upwards so if the tag team had not been dragged downwards through the breaches there would have been some very interesting( strange) forex behaviour happening !

so yeah - sell as it confirms its fallen below the support line

hope this helps ?
N

right wheres my mandolin again .......flattleys ...are you ready ?

 

[NVP]

later all - off to coast for weekend then boston on monday....

have good weekends...and I promise no more dodgy videos...for a while anyway !
N

 

[NVP]

Yen fanciers beware then............

I like the U/J a lot .............I want to spend more time on strategies as it can be a nice scalp and a 1 pip spread helps !

again guys ....why complicate things with those nasty pair charts ?

better to have shown the Japanese currency index against the japanese bond prices .......oh you havnt got a 1000/1 corrie handy ?........ok fair enough

later all
N

 

[TheRumpledOne]

Long time, no hear. How's trading?

 

[NVP]

Long time, no hear. How's trading?

hey TRO....

relatively quiet for me personally - i'm so busy at work I dont get any time apart from posting the odd comment here and ticking over.....

one day I will make the jump though.....

I Notice your thread is going well ! :smart:

Neil

 

[NVP]

hey all

have a good week.......Alan JRP and co are minding the shop in my absence


jesus - I told my US team England were gonna whip their arses......

The first couple of rounds are on me in Boston tomorrow evening then

N

 

[alan5616]

hey all

have a good week.......Alan JRP and co are minding the shop in my absence


jesus - I told my US team England were gonna whip their arses......

The first couple of rounds are on me in Boston tomorrow evening then

N

Better not let the drinks slip through your hands

 

[jrplimited]

Better not let the drinks slip through your hands

No Alan, NVP is definitely not that green.... BTW; How on earth did we draw that one?
Simon.

 

[alan5616]

No Alan, NVP is definitely not that green.... BTW; How on earth did we draw that one?
Simon.

It happened. Better hope we win the group. If we finish 2nd, we'll be playing the Germans. After watching Germany impress tonight, not a prospect I relish.