Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

Re: shall I call the ambulance....?

Hi N and all else,

Bit late on parade posting this morning's bun fight as electrician had power off to repair fused circuit which I managed to blow up when hooking up Christmas lights last night - my youngest daughter thought it was funny as my hair stood on end and I did the merry "shocked" dance! The reputation of my diy skills holds no boundaries....

Simon.

Ha Ha ! :cheesy:

This is what men do......sounds like trading is more your Forte Simon !

you battled well........it wasnt plain sailing this morning at all I think....

tell me how often do you pack up and walk away?....as so far I dont think I ve seen a losing day from you ?

I have a small tree in lounge with some lights in a box peeking out hopefully (!).....

If my strength returns I will attack it later....but stories like this make me wonder if I should leave it to my wife....they would not dare electricute her !

N

 

[jrplimited]

Re: shall I call the ambulance....?

Hi N,

I try to wrap up trading on my fav 3 pairs by midday and then select one of these 3 to follow (at reduced stakes) for the remainder of bun fight through to 17:00 hrs (London time), then shut up shop for the day. Basically I use the discipline of two hits on the trot with a pair equals stop trading or stop after two wins (ie a loss, win, win, or win, loss, win), sometimes I get lucky and hit two wins on the trot and stop for the day but thats not a frequent occurence!

I find that spreading my trading over 3 pairs with the above disciplines (time and sequence) helps enormously to "smooth" out a day's results and I always look at a week's worth of results, rather than a single day's, whenever assessing performance.

Losing days are part of the game and I've had many of these for sure! Its the end of the week that really matters to me as this is when I look to leverage my bank up or down readyfor the next week's onslaught. Keeping profit targets to realistic values and making sure SLs are manageable, without strangling your trades, works wonders - think small and go for consistency.

Simon.

 

[NVP]

wrap up....

heres the charts at 4.30

USD has gone flat.......i'd be suprised if that 30m high line on right gets hit today now and will be a target level for tomorrows action (?)

bit of a rally from the GBP but thats it really..the markets are looking mainly top floor on the 1 and 5m TF , with 30m pointing upwards (indicating more push to come for euroGBP ?).....not sure....

over and out.........
N

 

[NVP]

Re: shall I call the ambulance....?

Hi N,

I try to wrap up trading on my fav 3 pairs by midday and then select one of these 3 to follow (at reduced stakes) for the remainder of bun fight through to 17:00 hrs (London time), then shut up shop for the day. Basically I use the discipline of two hits on the trot with a pair equals stop trading or stop after two wins (ie a loss, win, win, or win, loss, win), sometimes I get lucky and hit two wins on the trot and stop for the day but thats not a frequent occurence!

I find that spreading my trading over 3 pairs with the above disciplines (time and sequence) helps enormously to "smooth" out a day's results and I always look at a week's worth of results, rather than a single day's, whenever assessing performance.

Losing days are part of the game and I've had many of these for sure! Its the end of the week that really matters to me as this is when I look to leverage my bank up or down readyfor the next week's onslaught. Keeping profit targets to realistic values and making sure SLs are manageable, without strangling your trades, works wonders - think small and go for consistency.

Simon.

Hi mate

wow....we should post this where every wannabe daytrader can see it......strikes a real chord with me as I see similar approaches from most of the professionals that are still around to tell the tales

excellent post JRP and i'm recommending it !

N

 

[NVP]

7am wakeup call !

GOOOOOOD mornin traders .......!!

about 6.30am the GBP went walking south and looks to be continuing as we speak,,,
Tag team nicely moving up in tandem and the USD has already flirted with that big R horizontal on the 30m..........could breach it now and go on

elevators supporting tis movement but most markets not yet awake !

Goood start !
N

 

[NVP]

Price patterns on the Corrie 1000/1

I drone on that the corrie on a 1000/1 delivers great price patterns and S/R levels
in any Timeframe.... :smart:

look at the Red GBP below on the 30m corrie back to Nov.......(CAD and Yen also normally do
a pretty good show as well as all 3 have most volatility)

do I really need to spell it out ?.......HH and HL going up and LH, LL going down everywhere

you can even do Fibs off this stuff if you want......(nonononono)

I am in love !

N

 

[NVP]

8 from 8 ?

lets see..........!!

 

[NVP]

8 from 8

unless i'm wrong with Lance Beggs rules for this iopening 7am play ........the trade will be sucessful if the bounce continues up for 10-15 pips as it came out above the 15m band on G/U

and the opening markets supported a rise in the Euro pair (1m elevator)

the Euru/Usd actually delivered just about 10 pips from that first push up anyway....

kinda wavering here though now on both

n

 

[NVP]

1 min chart shows markets and Euro going up ?

Just need the Usd (Green) to fall below the zero in that 1m elevator !

N

 

[NVP]

nearly there.......

 

[NVP]

there was a fast 10 pips on GBP if yuo were brave.....

euro stalled in breaching that 1m pair cahrt level , then BGP stepped in and came up behind with support from the markets.....

impossible trade actually.......looking positive here re a gradual turnaround buying europair soon

N

 

[NVP]

flattening at the moment........

 

[NVP]

GBP sure trying to climb higher but we need a decent breach in the 1min 1000/1 plus markets supporting the move in 1m elevator alongside the confirmed 5m one

 

[NVP]

Chop chop chop chop

 

[NVP]

8 from 8 !!!!

yes folks 8 trades from 8 starts on Lance Beggs opening 7am 15m bar strategy

yourtradingcoach.com

look at chart Euro and GBP comfortably held in the bar ranges created at 7-7.15am and we made money buying into that rise (the red horizontals on the small pair charts shown in middle of piccy)

GBP coming up nicely now but worryinging not supported at all by the scattered markets in the elevator......whatever

(note - 8.53am - now it is on the 1m's and its really motoring upwards with Euro !)

Well done Lance !

N

 

[NVP]

virtually 100 pips reversal on the G/U since that 7am opening Bar area....look at those Beeeutiful price
patterns on the 1m chart (HH,HL's from GBP and especially nice LH,LL's from the USD and yen)

the markets s/be well in the top floor area now - but to be honest theyre not :?:


This is an example of non standard correlation activity.....so what can we expect or learn when correlation dynamics recommence ?

hey ho......pips are pips

N

 

[NVP]

whats going on ?

eh ?

We have most markets (poss not Oil and gold) on the ground floor now but the GBP is still rising ??

N

 

[NVP]

Half the pips

ok all a quick lesson

the 1000/1 corrie does not lie re power and direction....pick 2 time points and
look at the relative movements in currecncies to see whos made what pips as
a Pair combo...

heres the Euro and GBP vs the USD recently this morning

Euro has been pretty flat hasnt it ?.and actually finished up in this segment
time period shown - what about USD.....lovely price action downwards -
and GBP has lovely price action upwards

The USD and GBP have roughly same distance Up vs down havnt they ?

so what are the pip scores on the doors then ?.......

well guess what - the EURUSD made 70 pips and the GBPUSD made 140 pips.....proving that the Currency value of the GBP move was 70 pips and the currency value of the USD moves here was 70pips...

EURUSD 70 pip gain was purely due to the USD..no contribution at all from the Euro
(on this occasion)...........hmmmm

N

 

[NVP]

all change ?

see that near HH / breach coming on the on the USD 1m 1000/1 corrie ?

and the markets are already GF(ground floor) on the 5m elevator waiting fo rthe 1m to join them !.....tags never should share the markets floor

Euro's been up for it for ages....so just needs markets in tune on 1m and no doubt GBP will follow


N

 

[NVP]

strange days.....

the markets are showing good strength above the 20Ma on the 1m and 5m elevators , but so is the USD (??)

this demonstrates amazing strength on USD's part (its swimming against the Markets tide) and when the markets start to retrace I predict a good opportunity on selling euro pair into USD.....cumon !!

N