Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

Re: 7.00am - 15m bar results

Hi N and everyone,

N, I've seen loads of variations on that 07:00 M15 bar set up. big dog, London open etc., and its best to only take one trade per day as long as the directional breakout is with the prior prevailing trend. Also its ideal to set a pip buffer on breakout boxes and there are a few threads dedicated to these techniques over at forex factory (am I allowed to mention this site?), one in particular had a good idea of waiting for the 3 period SMA (simple moving average) to break the box before trading, by using a TP from the actual SMA's break point.

One thing to watch out for is low volatility days during the Frankie open, as price can drift around a lot after any initial move. With the "wonders" of MT4 you can easily use an indy to plot an overlay 15 minute candle on [say] a M5 chart, that way you can follow price more dynamically - shout if you want this indy.

Have a great weekend and regards,
Simon.

Hi mate

unfortunately you are wrong.....now I recall more fully :-

1) it is my bloody system
2) I invented it...everyone else copied me
3) it is unique in approach....
4) it is 100% supported by my money back guarantee
5) no deposit and 4 years to pay
6) buy it now and i will throw in $200,000 worth of other trading systems
(that I Invented last week as well)

please refer to my website at forexorgasmatron.com for the full details

:cheesy:
N

 

[NVP]

Hi Fellows, just found this thread and can't make head nor tail of it. Perhaps it is too complex for my poor brain.
My idea was that I could get the gbp/usd and the eur/usd on my screen and trade the difference between them as per the forex impact fellow.
Anyway, I have downloaded the corr indies and will see what I can make of them. Thanks

Simon, the 15 min overlay would of great help to me on another project, so if you would be so kind, I would be most grateful.

Phreddy

Hi Phreddie

You to ?............Damn I've been coasting for a month now hoping someone would tell me where this is all going and what these charts actually mean.....

hey mate ..i've pm'd you with some comments and would be happy to go through this baby piece by piece

I think a lot of people are watching the thread but dont want to ask some obvious
questions .....although I am happy to answer anything as best as I can to help !

we get over 1,000 views a week now and apparently I am rising on google ...(ooer ?)...so perhaps the mystery of "what the hell is he talking about?" is working !

I can assure you that my own intelligence and trading experience is not what is selling this thread....so the corrie must have something to offer !

N

actually its probably simon as we all get to see if he behaves himself up to xmas day......
Sorry - i'm taking no bets on that hahahaha

 

[NVP]

Hi Fellows, just found this thread and can't make head nor tail of it. Perhaps it is too complex for my poor brain.
My idea was that I could get the gbp/usd and the eur/usd on my screen and trade the difference between them as per the forex impact fellow.
Anyway, I have downloaded the corr indies and will see what I can make of them. Thanks

Simon, the 15 min overlay would of great help to me on another project, so if you would be so kind, I would be most grateful.

Phreddy

ok lets get down to business...this thread has more twists and turns than a twisty turny thing so I do apologise to new viewers !

(hey c'mon - did you guys read every post on the James16 public thread ?....jees gimme a break then !)

Phreddy........having loaded the corrie, set up the MA to 1000 and the Delta to 1
this is our real time no frills picture of the market on the G8 currencies...all TFs

if a currency line goes up the currency is increasing in strength against others and vice versa. For this setting I advocate removing some of the lines to make it simpler (say leave 4 max ?) and then use price action patterns to trade these currencies against each other...for example We post charts with the Yen,USD,Euro ,GBP on a daily basis and generally call trades on the GBPUSD when the price patterns look promising

we also have an experinamental indexcorrie showing on the left of most charts that adds the OIL,GOLD,S&P, FTSE and DAX Strengths to see if our trades have the support of the market (market correlation to the forex)

its rough and ready stuff but its as good as we have till this thread takes off and we get some more research going on these areas

ok please fire away and we will go through what you want to know

N

 

[jrplimited]

Hi N and Phreddy (is that me being usual dyslexic self in writing that?)

N. Ah so glasshoppaaar, thats what your corrie indy is supposed to do. Theres me thinking all those squiggly lines gyrating all over the shop were signals when to take a smoke break, warning wifey was en route home; time to change trousers; yah de dah etc....!

Phreddy. Try and "skim" read through this thread to get the jist, then load corrie on your MT4 app with NVP's suggested settings and watch the interplay between the various pairs, plus keep coming back to this thread to see charts posted and comments on trades taken and post some of your own observations - its the best way to learn this novel way of looking at the markets. BTW; if N is OK I'll post that overlay candle indy for you or wack it over via PM.

Shouting at X factor tonight as its the final (thank goodness) with my Christmas cracker hat on - wifey banned me to study so now its partaaay time - yeeehaa!

Regards,
Simon.

 

[phreddyinbg]

Gentlemen,
I am blown away by your generosity!! I had expected a “…read the thread. “ and something of a “…if it is too complicated for you then perhaps it is not for you.” sort of answer. Mind by reading the thread you didn’t seem those sort of people. OK, enough sucking up, although I thank you most sincerely.

My story, in case other lurkers might be encouraged to come on in!!!
I started reading the thread, quickly jumped to the last posts to make sure it was still alive and to check if it had evolved into a simple system that I could just adopt.
Wrote my piece then went back to square one or at least page one and plowed my way through to fifteen.

Neil seemed to be getting desperate because although he had the views nobody was joining apart from Ivan and a lady from the ‘home counties.’

Not getting very far with my understanding I went for the indicators, whoosh…I was jumped to page 64 so I had a read around there.

Decided that reading from the last page might be a better way I waded through to page eighty one before calling it a night.

So, that is where I am

Phreddy

 

[phreddyinbg]

Back again!
Loaded the FXCORR but nothing to show. Well the chart records that it is there - R click for indicators and there it is.
I have moved the original chart up so there is plenty of room.
Is there a template for it?

 

[phreddyinbg]

And again: Ivan, I tried your suggestion of Dailyfx.com and overlay the charts but there doesn't seem to be a facility for that. Is there a small fact that I am not seeing?

Its all going bad today!!

 

[NVP]

Hi phreddy,

hmmm....we need to get the corrie on your screen first

can yuo send me a piccy of what you are seeing re the chart you have loaded it onto ?

heres my standard example loading onto the GBPUSD

im gonna drag and drop the FXCorrelator indicator on the left hand side (using the navigator tools option) into the standard pairs GBPUSD chart on the right


N

 

[NVP]

after you've dragged you see this....so just keep clicking on ok to get it embedded !

 

[NVP]

then you see the corrie indicator there underneath the pair chart

 

[NVP]

then drag the indicator window up so it closes out the pairs chart and close the navigator window !

when you can see the mess (!) of 8 lines like this you have the core indicator

let me know when you are at this point and we can take it from here again

dont panic re what you see.....thats not what you have to trade from (well unless you like pain) and we will make it much simpler to use than this

believe me - if I can do it ..anyone can !

N

 

[NVP]

hi all

nearly 7am......set up for those bars and lets see what we can do today

note JRPs comments re this strategy and the goverment wealth warnings attached !

overnight weve had action (on the 30m far right)....tag team have fallen and Euro looks real solid on that slow climb....thats the 5m in the big main screen

obvious play looks ike sell the USD into the Europair....but thats just wishful thinking

start your engines
N

 

[NVP]

Explosive opening....dax is rocking up

 

[NVP]

Euro is looking strong despite the tags rise

 

[NVP]

Euro up and DAx up.....just pants correlation then !

 

[NVP]

sell pound...its not coming back here....?

 

[NVP]

ok looks like the 3rd 5m bar is gonna consolidate a little here......we thern look for trades when the 15m range is broken....

 

[NVP]

and the GBP is finally holding on the 1m corrie....

 

[NVP]

ok here she is

on the left the corrieindexs are showing the Dax attack...a little support from oil and gold as well ?

the GBP has grounded on that far right resistance 30m chart ?


time will tell
N

 

[NVP]

wow I wish my car had the breaks that the GBP has......!!