Best Thread Correlation Trading - Basic Ideas and Strategies
NVP
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well there you have it ..............just had my nuts handed to me on a plate in about 5 trades .......................too aggressive on selling the G/U............ I got clipped 3 times because of impatience and not giving it enough room to breathe ....
then any buy into USD was far to early and dumn......it had not been confirmed on higher TF's where USD is still a buy
lessons learned ...........I need to stick to the basics of what i do and not force the trades..........I am always trying to play the clever moves
later
N
then any buy into USD was far to early and dumn......it had not been confirmed on higher TF's where USD is still a buy
lessons learned ...........I need to stick to the basics of what i do and not force the trades..........I am always trying to play the clever moves
later
N
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NVP
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morning all
how many times do we all look back over time and ask ...........
why was I doing that ?..........why didnt I do this ?......what the hell was the logic in doing that ?...........why did I not do the obvious ?.....why do i always do something else ?
many many times - right ?
but relax .......we all do things that seem to break the rules we try to set ourselves in life ...........be it eating that extra biscuit ........having 1 drink too many......... not finishing your homework ...............watching that extra episode of Frasier vs starting work...... promising not to insult the in-laws...........losing your temper .............the list goes on and on and on .......
why ?...........because we are all just human :cheesy:
and its the same in trading ...........yesterday I was desperately trying to make a few pips against the clock ............I could see what the market was doing but I took about 5 rapid trades trying to make a really fast buck ........and I compounded some silly trading errors 1 after the other without thinking
at least I know what I did .........I discarded some basic rules i preach to chase the GBP........a classic error and one I need to work on if I ever want to become a pro trader
but then again we are all only human .............so dont believe the hype out there of "robot" traders who never make mistakes .........they are covering up their errors and "snowing" you .......trading can be profitable but believe me alongside the market handing you the usual % of losing trades you will also make mistakes some of the time - and usually not in your favour re pippage
so just dust yourself down and get on with it ...........and dont beat yourself up too much ......................remember - we are only human ! :smart:
N
how many times do we all look back over time and ask ...........
why was I doing that ?..........why didnt I do this ?......what the hell was the logic in doing that ?...........why did I not do the obvious ?.....why do i always do something else ?
many many times - right ?
but relax .......we all do things that seem to break the rules we try to set ourselves in life ...........be it eating that extra biscuit ........having 1 drink too many......... not finishing your homework ...............watching that extra episode of Frasier vs starting work...... promising not to insult the in-laws...........losing your temper .............the list goes on and on and on .......
why ?...........because we are all just human :cheesy:
and its the same in trading ...........yesterday I was desperately trying to make a few pips against the clock ............I could see what the market was doing but I took about 5 rapid trades trying to make a really fast buck ........and I compounded some silly trading errors 1 after the other without thinking
at least I know what I did .........I discarded some basic rules i preach to chase the GBP........a classic error and one I need to work on if I ever want to become a pro trader
but then again we are all only human .............so dont believe the hype out there of "robot" traders who never make mistakes .........they are covering up their errors and "snowing" you .......trading can be profitable but believe me alongside the market handing you the usual % of losing trades you will also make mistakes some of the time - and usually not in your favour re pippage
so just dust yourself down and get on with it ...........and dont beat yourself up too much ......................remember - we are only human ! :smart:
N
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NVP
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heres the week on my FREE FXCorrelator indicator (available in links below)
ive extended out the 1 hr TF and made the green usd bold .........see how it moved through the week ?
this is the rudder to steer your lower TF trades ..........follow the rules .....only selling or buying the USD in a trade based on what it shows here .............
so Tuesday the USD was an epic SELL until around london lunchtime.....at this point the Green USD starts to CONVERGE back towards the ZERO ............
now until we see the USD get above the Zero we should continue to hunt sells on the lower TF's........... but clearly this will become MUCH harder to find because the USD has now slowed/revensed its sell momentum dramatically
but thats life .......and it could have easily turned around at any time and started falling again ...................
in trading you have to draw a line in the sand somewhere and trade from that point......
i'm a big big fan of the rumpled one (TRO) who is posting here again at T2Win .......read his work and watch his videos on draining the banks ............the guy is very very switched on regarding simple probablistic trading techniques and I have learned a lot from him over the years
he sticks a horizontal line on the market price and trades from there........thats it !
so draw your line in the sand regarding your trading techique , and then stick to it
later :smart:
N
ive extended out the 1 hr TF and made the green usd bold .........see how it moved through the week ?
this is the rudder to steer your lower TF trades ..........follow the rules .....only selling or buying the USD in a trade based on what it shows here .............
so Tuesday the USD was an epic SELL until around london lunchtime.....at this point the Green USD starts to CONVERGE back towards the ZERO ............
now until we see the USD get above the Zero we should continue to hunt sells on the lower TF's........... but clearly this will become MUCH harder to find because the USD has now slowed/revensed its sell momentum dramatically
but thats life .......and it could have easily turned around at any time and started falling again ...................
in trading you have to draw a line in the sand somewhere and trade from that point......
i'm a big big fan of the rumpled one (TRO) who is posting here again at T2Win .......read his work and watch his videos on draining the banks ............the guy is very very switched on regarding simple probablistic trading techniques and I have learned a lot from him over the years
he sticks a horizontal line on the market price and trades from there........thats it !
so draw your line in the sand regarding your trading techique , and then stick to it
later :smart:
N
