Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

Hi N,

Busy bee day today and its a case of hay making whilst the wind and rain blow around us here in the good old Great Bust Britain! Our cousins are due to take their holidays real soon so grab those pips over the next two days and squirrel them away until next week...

Rofl on that CC latest mail. Yet another $2k plus "system" but this time our "friend" is on the affiliate take. Having done a few financial trade shows in Vegas I can tell you that less than a day is usually spent looking at all the stuff on offer and the balance of time is spent jollying it up in that wonderful sin city world, so I felt sorry for Jason when reading that he had to attend a high profile meet in the oppulent MGM hotel to learn how someone else was going to extract a ridiculously large sum from unsuspecting traders, with absolutely no proof of real performance - BTW; Who is "trader" Joe?
Trade well and regards,
Simon.

POSTED MESSAGE FROM IN FLIGHT LEAR JET ACROSS ATLANTIC

"JRP........sorry i'm intransit to high powered corrie business meetings
across the globe...Vegas...NY....London....Peckham....you mean you havnt been introduced to Joe ?.... .........stewardess get me Soros on line 6, tell Angelina she is a married woman and i'm not interested, and finally tell mr Cowell that I cant appear on Saturday night as i'm in Japan"

END OF LEAR JET MESSAGE

getting back to planet earth.....busy bee myself today so no chance to play with corrie.......doesnt stop anyone else putting a post or 2 up of whats happening though ?......c'mon everyone ..........newbies are very welcome here even though I am a "Celebrity Trader" now :cheesy:

N

 

[NVP]

morning action ............

ok - just 1 review then

Rollercoaster morning session

1) 5am to 7.30am - Tell me what you were buying/Selling please
2) 8.30am till now - tell me again what you should have been doing

if answer 1 = answer 2.... go directly to post 1 and read my whole Damn thread again

N

sorry i'm lunching at Sandy Lane in Barbados now with the Rothchilds so talk later

 

[NVP]

classic correlation play !

Hi all

just expanding the 5m chart above..........do you see how GBP was being stuffed by USD and The Euro for this period and then responded by flying back on that second phase......?

a little unusual as the GBP was actually falling vs the USD in early phase (normally you would expect it to be a little more neutral or small gains whilst the Euro was kicking USD's A*se ) - but the second phase is pure correlation heaven with the traditionally more volatile GBP recovering against the Euro by using the USD (and yen) weakness as the leverage....

now wheres my lunch?.....I must say its very nice here at Sandy Lane...shame that michael Winner is very noisy on the next table
N

 

[NVP]

Long Term 4h position today

Hi all

weak start for the Tag Team today so a few pips already buying the Euroteam

meanwhile the 4h (1000/1 setting) is an interesting picture (Below)

look at the Resistance lines on the tag team......will they see those levels again for a while ?........I certainly would hesitate to buy above those lines until support had been established again and selling Tag looks attractive supported by LH/LL patterns on lower TF's.......

to further support this strategy it would be nice to see continued stong markets in commodities and Stocks in the short term...looking at second Chart (4h 170/3) they are certainly all now in upper half with gold especially dominent so hopefully it will continue to hold and the Tag will start to be pushed downwards

to have almost everything in one half is not perfect !....one is looking for Tagteam on one side and indices on the other due to the generally accepted inverse relationships they have....

last day before thanksgiving as well so anything can happen

play ball.......

N

 

[yiehom]

corrie

Hello N!
I had some problems opening the files you sent, as my computer couldn't find the right soft for that... Maybe that it is too old.

Did you people see the Jason Fielder's correlation code's revue at Forex peace army ?
As of when I read it, nobody had allowed it 2 stars in a scale of 0 to five. So, still not yet the holy grail...

Hi all

weak start for the Tag Team today so a few pips already buying the Euroteam

meanwhile the 4h (1000/1 setting) is an interesting picture (Below)

look at the Resistance lines on the tag team......will they see those levels again for a while ?........I certainly would hesitate to buy above those lines until support had been established again and selling Tag looks attractive supported by LH/LL patterns on lower TF's.......

to further support this strategy it would be nice to see continued stong markets in commodities and Stocks in the short term...looking at second Chart (4h 170/3) they are certainly all now in upper half with gold especially dominent so hopefully it will continue to hold and the Tag will start to be pushed downwards

to have almost everything in one half is not perfect !....one is looking for Tagteam on one side and indices on the other due to the generally accepted inverse relationships they have....

last day before thanksgiving as well so anything can happen

play ball.......

N

 

[NVP]

USD being battered............

well well.............no respite on the USD today

heres the latest......buying Euro is producing some smooth and decent returns with the GBP much more volatile on the moves (so be fast on your feet)...but its still delivering big time !

AUD is falling generally with USD so no cigar..........the Yen and USD are really uncorrelated so far today as well ........that always guarantees serious currency action !

the small 5m index chart on the left side shows Gold currently leading the charge back up so more pain for USD in prospect.....at least until the US opens I suppose !

N

 

[NVP]

Re: corrie

Hello N!
I had some problems opening the files you sent, as my computer couldn't find the right soft for that... Maybe that it is too old.

Did you people see the Jason Fielder's correlation code's revue at Forex peace army ?
As of when I read it, nobody had allowed it 2 stars in a scale of 0 to five. So, still not yet the holy grail...

Hi Yiehom....

what version of metatrader do you have loaded ?

and what brokerage house version ?

I have version 4 MT with ODL Securities

I would have though that it would be ok ?


correlation code eh !!!

I dont follow the peace army stuff or any system review sites to be honest......I put a big Caveat on their opinions for the obvious reasons of objectivity (?), but also that the answer will always be based on the market conditions when system was traded......but thats just me :whistling

funnily enough I have released the indicator/software to 1 company that reviews systems but have asked them to just play with it and give some honest feedback to me personally rather than publish and say if it "works" or not ........if you look at the basic principles no one is really desputing (to date !) corries benefit for assessing the overall market view.....and my Trading ideas / strategies that I publish here are hardly cutting edge and mainly based on patterns and price action which again is not really a Strategy that is mega-contentious !

I am hoping to get some good feedback that will help improve the indicators and strategies to use with it

N

 

[NVP]

Re: corrie

Hi Yiehom....

I dont follow the peace army stuff or any system review sites to be honest......I put a big Caveat on their opinions for the obvious reasons of objectivity (?), but also that the answer will always be based on the market conditions when system was traded......but thats just me :whistling

N

Hey Yiehom...

you got me looking again at that site and its a lot more interesting than the last time
I looked (which was a while! )

lesson to me not to make libelous statements if I am out of touch with what I am talking about ....hmmm time for a poke around again there....

on the correlation code comments so far on the site - if anyone wants to send me even just $500 I will Happily send you software you cannot open and I will be happy to not answer the phone

Yiehom will vouch for the software service !

N

 

[NVP]

End of USD retrace ?

hmmm.......

been a nice day really for Euro/USD fans - buying Euro for most of the day and then Selling on the recent reversal of fortune during Greenbacks small rally ..............

looking at Charts below I would say that the USd has retraced enough and is in the thick of the Resistance levels now on the 5m Chart (Green horiz).....if it marches on upwards fair do's... but I think not

the smaller 5m 14/3 index chart theiron the left side is deffinately screaming that Tag recovery is looking overdone for a while and that the Indices want to fight back as well

oh well lets see what happens ...........

N

 

[NVP]

Yes - looking promisng !

oh yeah..............c'mon baby time to fall like a stone ........

N

 

[NVP]

No cheating !

I wont edit posts above (spelling) as people will say I am repainting the images to fix the result........

N

 

[NVP]

Luverly !

this is very nice I must say......more please mr corrie !

no tricks...no magic buttons or signals.....just watching price action/patterns
on an excellent little tool that brings individual currencies to life :smart:

N

 

[NVP]

Dont talk - post !

 

[NVP]

Crunch time.....

 

[NVP]

dont just watch USD !

umm wheres Sterling going ? :|

4 currencies moving up ans GBP is going down.....

 

[NVP]

Ball is on the 10 yard line and last play !

its that $64,000 moment again .................what do you see ?

n

 

[NVP]

Heres a clue.......

its green and its looking bullish...........oh and another currency has been trounced in last 10 minutes that might be worth betting that its gonna fall more ?

N

 

[NVP]

target Scalp play

ok lets put my money on the table

 

[NVP]

i shuld have chosen Euro as its already in profit.....see on 1m how USD is still rising but so is GBP........

GBP start FALLING !!!!

 

[NVP]

I still like this trade.........so I move down my entry level to get a better 10 pip probability !

N