Best Thread Correlation Trading - Basic Ideas and Strategies

Re: Messy morning.........

Hi again N and all else looking in on OP's thread,

I'm certainly a great believer in scraping low numbers of pips frequently and consistantly, rather than the outrageous X 000s pips all these rubbish marketing hypes endeavour to promote.

The way I've learnt from bitter experience in futures market trading is to simply chip away for small pips / points and use the power of componding to increase the working bank. I always increase or decrease (after a bad week!) my level stake every start of each week rather than daily or, heaven forbid, real time intraday, this way I know exactly what my targets are and when I can safely say stop for the day.

Also and mucho importante, every trade I enter into I always view this as potential loss maker first, in that I will know my stop loss in advance and exactly what it represents in monetary values, this helps a lot in planning out the next trade. Using simple rules like three trades per cross is maximum for day with two hits on the trot per cross equals leave this pair alone are other things I use.

Keep it simple - the KISS thingy! - is paramount in this game as is finding what style (TF, pairs, time zones etc) suits your mentality and tolerance, with tolerance being the biggy word here as its pointless (pardon the pun) chasing the dream big profits when in reality your are far better off IMHO chipping away with achievable small profits - that fits into my tolerance as I know exactly what I have to do to grab these and what the market does in turn to take these away from me!

Having now been closed out of my last two trades I'm going to take the hint that the market has been throwing my way that momentum is not really present today, so no trading this afternoon and definitely no screen watching either, as thats temptation with a big T for me!

Trade well and regards,
Simon.
 
Re: Messy morning.........

Hi again N and all else looking in on OP's thread,

I'm certainly a great believer in scraping low numbers of pips frequently and consistantly, rather than the outrageous X 000s pips all these rubbish marketing hypes endeavour to promote.

The way I've learnt from bitter experience in futures market trading is to simply chip away for small pips / points and use the power of componding to increase the working bank. I always increase or decrease (after a bad week!) my level stake every start of each week rather than daily or, heaven forbid, real time intraday, this way I know exactly what my targets are and when I can safely say stop for the day.

Also and mucho importante, every trade I enter into I always view this as potential loss maker first, in that I will know my stop loss in advance and exactly what it represents in monetary values, this helps a lot in planning out the next trade. Using simple rules like three trades per cross is maximum for day with two hits on the trot per cross equals leave this pair alone are other things I use.

Keep it simple - the KISS thingy! - is paramount in this game as is finding what style (TF, pairs, time zones etc) suits your mentality and tolerance, with tolerance being the biggy word here as its pointless (pardon the pun) chasing the dream big profits when in reality your are far better off IMHO chipping away with achievable small profits - that fits into my tolerance as I know exactly what I have to do to grab these and what the market does in turn to take these away from me!

Having now been closed out of my last two trades I'm going to take the hint that the market has been throwing my way that momentum is not really present today, so no trading this afternoon and definitely no screen watching either, as thats temptation with a big T for me!

Trade well and regards,
Simon.

Hi Simon....

Yep - bit of a lottery this afternoon......and that blip on the Euro announcement...jees..!!!

thank you for this Post ........I am not a full time trader (or even an active part time one currently) but one day I certainly want to be.......so any advice you want to place on this post for aspiring traders is appreciated as I certainly cannot do it !

Re red part above...totally agree

I have been involved in a lot of corporate decision making though over the years and (like trading) the first question you must ask yourself (before you worry about the potential Deal profitabilty) is....whats my exit strategy ?............cover the Exits first....!

N
 
Last edited:
a few pippies.....

Hi all

had a chance to look at screens again.....the index corries finally agreed on sell Markets and buy Tag and it seemed that the Euro was closest to following the markets direction so heres my vitual trade on the right hand side....poss 10 pips if it keeps going
N

Yep - ar hit 72 low so 5-8 pips would have been made....jees tough day !!
 

Attachments

  • 10 fast pips....jpg
    10 fast pips....jpg
    112.7 KB · Views: 157
Last edited:
Wagon still rolling...so would I have gone in or stayed out ???? :eek:

LOOK at Yen confirming the upwards direction for tag...Ballistic !
 

Attachments

  • wagins still rolling .jpg
    wagins still rolling .jpg
    113.1 KB · Views: 149
markets still falling ....watch retraces but deffinately looking buy Tag sell Euro

TAG now own the top of the 5m elevator on the left side of the chart
 

Attachments

  • marketsd falling .jpg
    marketsd falling .jpg
    109.3 KB · Views: 157
again ?..

look at the 1m index corrie - are markets turning down to supoport the 5m again ??????
 

Attachments

  • again.jpg
    again.jpg
    113.2 KB · Views: 154
E/U going in at 67.....
 

Attachments

  • IN.JPG
    IN.JPG
    109.9 KB · Views: 142
and wobbling wobbling................:mad:

the markets are falling on 1m and 5m ..it should be 99% on already !
 
the bloody GBP is falling instead with the markets ...........:mad:
 

Attachments

  • GBP FALLING.jpg
    GBP FALLING.jpg
    113 KB · Views: 147
so what wont go down (despite the markets pressure)...must go up then ?
 
hmmmm

I should have been bathing in pips in the last 10 mins or so.....

look at he chart ...the tag in the top halves of the corrie index charts and all the markets below indicating downward biases .....but the sell Euro buy USD was flat as a pankake !!

GBP was a trickle but not enough and it had been walking the tag path recently so i was not
keen on it for this trade

DOH !!! :mad:
 

Attachments

  • monster market sell.jpg
    monster market sell.jpg
    49.1 KB · Views: 143
1 more try for luck...sell at 78
 

Attachments

  • 1 more time.jpg
    1 more time.jpg
    109.4 KB · Views: 139
forget it out again............
 

Attachments

  • out again.jpg
    out again.jpg
    110.1 KB · Views: 144
Doh........the GBP is the one falling again...............
 
and while I was saying that I missed the 10 pips on the euro falling ! :eek:
 

Attachments

  • missed it .jpg
    missed it .jpg
    112.2 KB · Views: 151
Last edited:
AAAAHAAAHHHHH............remember this ?

well its back again !!!


 
bit dizzy now as that wall is hard........;)

callin it a day...........I really hope we get more People playing on this thread as gotta admit i'm having fun and learning lots about myself (y)

tomorrow dudes.............its another day.....

JRP anything to add ?.....and wheres that karen Brady dress you promised to wear ?

N
 
15,000 views and still going

I must put that head hitting dude in more often as he sure pulls a crowd ! :cheesy:
 
Top